Case study: Aspen completes £2.5m three-day bridge

The borrower's project was delayed due to underpinning works on a neighbour’s house.

Related topics:  Property,  Case Study
Rozi Jones | Editor, Barcadia Media Limited
11th July 2024
Aspen Fulham residential case study
"The fact we could turn the application around in three days, allowing the borrower to head off on honeymoon with their money issues resolved, truly is the icing on the cake."
- Ian Miller-Hawes, sales director at Aspen Bridging

Aspen said ‘I do’ to a speedy £2.5m residential bridge, completed in three days, with the borrower having two reasons to celebrate having also got married on the day of drawdown.

While finishing redevelopment of a six-bedroom terraced family home in Fulham, the applicant’s project was significantly delayed due to underpinning works on a neighbour’s house which meant the existing credit line was coming to an end.

The Aspen team ensured the application was signed, sealed and delivered in double quick time to allow works to be completed as well as additional time to sell the property and realise maximum value.

The deal was completed on Aspen’s stepped rate, starting at 0.65% per month over 10 months.

Ian Miller-Hawes, sales director at Aspen Bridging, said: “This is bridging as a true financial solution to a problem that was completely outside the developer’s control.

“The fact we could turn the application around in three days, allowing the borrower to head off on honeymoon with their money issues resolved, truly is the icing on the cake.”

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