Aspen Bridging lending soars past £750m, sets sights on £1bn

By

Jack Coombs

Aspen Bridging has surged past £750m in total lending following a record July, and is targeting £1bn within the year.

The lender smashed through the latest landmark figure having completed £30m of new loans last month across 33 deals.

Comprising cases across 22 counties across England and Wales, submitted by 28 broker firms, the deals ranged from £4.6 million to £175k, with the lender’s no valuation product proving most popular.

In mid-July the lender launched its new rate card featuring reduced rates and increased LTVs as it sets its sights on being a leading provider of refurbishment funding to UK developers. The move has boosted an already strong pipeline of applications.

Jack Coombs, Managing Director of Aspen Bridging, said:

“The business is developing at an exponential rate, we are growing by 25% year-on-year and have a strategy in place to ensure we continue to beat this mark.

This is why I can confidently state we will hit £1 billion in the next year.”