Aspen Bridging has announced the completion of a 10-day loan worth £750,000 at 75% LTV.
The lender said a Nigerian-based investor needed to quickly refinance an existing buy-to-let (BTL) mortgage while releasing equity from a London property.
Aspen suggested that the applicant was able to meet all deadlines and avoid potentially costly penalties by utilising the lender’s bespoke integrated legal representation and video signature processes. The bridge was concluded on Aspen’s fixed rate product at 0.89% per month on a 10-month term, with no exit fees and no early redemption charges.
“From start to finish, Aspen was great on this case,” commented Blackstone Private Finance director, Michael Abebe, who first introduced the case. “I have never completed a foreign national bridge so quickly before this and will be looking forward to working closely with them on the next.”
Aspen director, Jack Coombs, added: “It was great to work with Michael to get this case over the line, and in the required timeframe.
“We have fine-tuned our remote capacity systems so foreign national bridges are also subject to our time based service excellence target which stipulates a 10-day turnaround when the applicant follows our advice, and this is proof the procedure works.”
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