Aspen Bridging has completed a bridge worth £455,000 in just five days, with its in-house monitoring team undertaking a 200-mile round trip on the day of initial enquiry.
With the foreign national client urgently needing funds to meet the developer’s purchase deadline on a new-build four-bedroom house in Wokingham, Berkshire – the lender proposed their No Valuation product and utilised its Docusign process for speed.
The deal was completed at 70% loan-to-value (LTV) on Aspen’s Flat Rate at 0.89% over 10 months, with exit to be achieved through a buy-to-let mortgage.
The deal was taken from start to finish by underwriter Daniel Tame.
Ian Miller-Hawes, sales director at Aspen Bridging, said: “This is yet another application where we have proven we will go above-and-beyond for our clients to meet their financial requirements.
“Each of our products are designed to perfectly address real-world lending scenarios and this is no different.
“Thanks to our growing reputation for good business in the foreign national space it is clear to see why we are witnessing a marked increase in applications from overseas investors, particularly having recently released aggressive rates that brokers have really embraced.”
Aspen Bridging recently launched its 2025 Rate Card with reductions of up to 0.80% for all new applications and a higher maximum loan size of £15m net.
The cut sees Flat Rates starting from 0.79% per month and Stepped Rates from an initial 0.45% per month.
Aspen’s Heavy Refurbishment Bridge product is now available up to 75% LTV with rates from 0.87%, while the lender’s leading Development Exit and Refurbishment bridge has also been updated and is available at 80% LTV with rates from 0.89% and up to 75% LTV from 0.84%.
