Aspen completes bridging loan for BVI
Aspen Bridging has completed a £585,000 bridging loan for a British Virgin Islands incorporated company.
The company was looking to complete a London redevelopment and raise funds for further purchases.
During the build stage of the project, the borrower required an additional £130,000 to complete the plan.
Aspen Bridging sought the opinion of AppleBY Global from the outset. The bridger also contacted Stephen Evans Jones of FieldFisher to outline any potential complexities.
The case was submitted and fully underwritten, with a credit-backed offer issued within three hours after confirming all legal and valuation costings.
Broker Lee Jospehs said: “The case threw up several complications throughout the process, however Aspen were able to provide the client with outstanding professional advice to assist with the building, insurance and legal issues, all of which made the deal possible in a very timely manner.”