Aspen Bridging completes five day auction purchase bridging loan

By Tony Sanchez 17th August 2020

Aspen Bridging took just five days to move a £193,450, 73% loan-to-value auction purchase application from illustration to completion, ensuring the first-time commercial investors saved their £26,500 deposit.

The property, a three bedroom detached house in Hall Green, Birmingham was secured at £265,000 with the brothers, making their initial foray into property investment, planning light refurbishment and sale.

The case was completed on the lender’s stepped rate product at 0.59% per month for the first five months of the 10 month term. In total 100% of the works has been funded in arrears.

The case was handled from start-to-finish by Senior Underwriter, Prabhat Talwar.

The borrowers said:

“The Aspen team were excellent, they were fast, efficient and delivered within time. Would highly recommend.”

Jack Coombs, Director, Aspen Bridging, added:

“To move from illustration to completion in just five days in today’s market is nothing short of remarkable.

Using our desktop valuation system, remote signing processes and witnessing agreements we can progress applications at tremendous speed.”