Aspen Bridging completes £1.75m capital release bridging loan

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A client requiring a £1.75m capital release for a development in Battersea, having recently paid cash for a detached residential asset in Surrey, has been assisted by Aspen Bridging.

The timing of the recent purchase caused issues at the legal stage, as the title deeds were outdated the charge could not be registered.

Aspen’s Senior Underwriter Prabhat Talwar, who handled the case from start-to-finish, worked with the lender’s lawyer, Leigh Haigh of Fieldfisher LLP and a request to expedite the charge registration was put in place as a priority.

The titles were updated in double-quick time and the case was completed in-line with the client’s deadline.

Aspen Bridging provided 72% LTV on its First Charge Light Refurb product at a rate of 0.49% for the first five months of a 10-month term.

Introducing broker, Romit Patel, Associate Director at LDN Finance said:

“I was really happy I recommended Aspen Bridging on the deal. When we have applications that require a certain level of attention and first class communication is absolutely critical, they deliver in all aspects for us and the client.”