Aspen Bridging has completed an urgent £1,575,000 No Valuation bridge in less than two weeks for a repeat borrower’s latest investment acquisition in Barnet, North London.
The five-bedroom detached house, situated on a sizeable plot, became available to purchase at short notice but had to be completed as soon as possible to beat other interested parties to the opportunity.
In-line with Aspen’s one-person-per-case customer service philosophy the deal was taken from start-to-finish by credit manager, Sinead McMurray who used the lender’s in-house surveyors to provide a post valuation offer in just 48 hours.
The 75% loan-to-value (LTV) deal was completed on Aspen’s stepped rate on an initial of 0.49% per month over a 10-month term.
Exit will be achieved once a buy-to-let product has been sourced, with the borrower adding the house to their investment portfolio.
Mike Allen, Aspen Bridging BDM for London and the East of England, said: “Our equity-funded position enables us to take a pragmatic approach to risk, particularly when working with experienced borrowers with whom we have established relationships.
“This approach allows us to streamline applications, focus on the issues that truly matter and complete transactions with exceptional speed.
“This particular case is textbook bridging as a quick, clean and effective financial solution.”
