"This is exactly the kind of situation that our Stepped Rate product is designed for, a quick solution to an unforeseen situation that ultimately puts the client in control, giving them the flexibility to repay the bridge early if they so decide"
- Richard Coombs - Aspen Bridging
Having built two new four-bedroom houses in the Dorset village of Lychett Matravers, the developer planned to exit their existing finance agreement through the sale but then found themselves requiring a bridge to redeem their existing development loan whilst also allowing further time for a controlled sales process.
The deal, which was finalised in just 20 days, completed on the lender’s Stepped Rate product at an initial 0.69% per month over 10 months.
In line with Aspen’s Customer Service Commitment, the deal was taken from start to finish by Richard Coombs, Credit Analyst at Aspen Bridging.
Richard said: “This is exactly the kind of situation that our Stepped Rate product is designed for, a quick solution to an unforeseen situation that ultimately puts the client in control, giving them the flexibility to repay the bridge early if they so decide.”
