"At Aspen, our exceptional service levels truly differentiate us as we deliver what we promise"
- Richard Tweddell - Aspen Bridging
A UK developer, working as a family business, returned to Aspen for funding on a new project after securing a £750,000 development exit bridge in just 10 days.
The developer recently finished a project in Chedworth, a village in the Cotswolds, consisting of two four-bedroom semi-detached homes.
One unit is now being used as security to refinance an existing facility, freeing capital for the next development.
This 75% loan-to-value deal was arranged on Aspen’s stepped rate over a 12-month term, with an initial rate of 0.39%. Both properties have full building control sign-offs, and the exit strategy is to sell the homes.
Impressed by the speed and service, the developer has submitted a second application for a different site, which is currently at the legal stage.
Underwriting manager Richard Tweddell handled the entire process, reflecting Aspen’s one-person-per-case approach.
“Consistently meeting expectations means understanding each applicant’s project, requirements and completion timeframes,” Richard explained. “At Aspen, our exceptional service levels truly differentiate us as we deliver what we promise; it’s one of many reasons quality, experienced developers use us time and time again.”
