Aspen Bridging closes £3.4m-worth of deals in one day

Aspen Bridging has completed five drawdowns on five different products in one day, with a combined total value of £3.4m.

Aspen Bridging closes £3.4m-worth of deals in one day

Aspen Bridging has completed five drawdowns on five different products in one day, with a combined total value of £3.4m.

This includes a £1.575m Marshall Island-based corporate new-build apartment purchase, a £889,000 foreign national new-build apartment purchase, £347,000 and £315,000 light development projects and a £315,000 no valuation auction finance purchase.

The properties were based in London, Newport, Southend and Swindon, and completed with the majority on the lender's stepped rate at 0.49% per month and fixed rate at 0.79% per month.

The average loan term is 11 months, with exit being realised through a mixture of sales and refinance.

Cases were introduced through five different brokers, and delivered in-line with Aspen’s one-person-per-case service delivery commitment.

Ian Miller-Hawes, head of sales at Aspen Bridging, said: “We have set ambitious business growth targets for 2022 and we have started the year very much on the front foot with completions every single day in January, including the magnificent five on Friday 14th which were all on different products.

“The pipeline of new applications from both UK and overseas borrowers is already healthy and growing by the day, with a mixture of new and well known brokers introducing cases.

“At the start of February we will be launching a raft of new products which will make us even more competitive in the marketplace, all backed up by our service delivery commitment which is second-to-none in the bridging finance sector.”

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