Aspen Bridging has completed a £520,000 refurbishment bridge at 75% loan-to-value in five working days.
The application involved a borrower who was refinancing to a term product which was ultimately withdrawn at a late stage, and to avoid receivership the deal was completedquickly.
Jack Coombs, (pictured) director at Aspen Bridging said: “This case study demonstrates everything we do well, to the minute. All cases are very closely monitored so we can constantly progress each application in the quickest possible time, all while taking on the majority of the workload to simplify the process.”
Steve Sanderson, commercial and bridging specialist at Clever Lending, added: “It was great to have our first completion with Aspen Bridging come through so fast, with a great service from Harry Baker as the Aspen case manager.”
The case was submitted for illustration online and submitted by the broker on Aspen’s portal ‘Broker View’ at 09:39 on Friday 22 March, with the completion e-mail received at 16:39 and the broker’s invoice received and paid by 16:57 on Thursday 28 March.
Other details include the speed to instruct valuation and legals, the flexibility to ensure an experienced Aspen underwriter could visit the property with the surveyor as soon as possible and the important roles played by both the client and solicitor to achieve such timescales.