With the lender’s speed and service named as factors behind the customer’s continued business, the five-bedroom detached house, situated on a sizeable plot, became available to purchase at short notice but had to be completed as soon as possible to beat other interested parties to the opportunity.

In-line with Aspen’s one-person-per-case customer service philosophy the deal was taken from start-to-finish by Credit Manager, Sinead McMurray who used the lender’s in-house surveyors to provide a post valuation offer in just 48 hours.

The 75% LTV deal was completed on Aspen’s stepped rate on an initial of 0.49% per month over a 10-month term.

Exit will be achieved once a buy-to-let product has been sourced, with the borrower adding the house to their investment portfolio.

Mike Allen, Aspen Bridging BDM for London and the East of England said: “Our equity-funded position enables us to take a pragmatic approach to risk, particularly when working with experienced borrowers with whom we have established relationships.

“This approach allows us to streamline applications, focus on the issues that truly matter and complete transactions with exceptional speed.

“This particular case is textbook bridging as a quick, clean and effective financial solution.”

Aspen’s unique No Valuation bridge is an award-winning product which enables genuinely urgent transactions at up to 80% LTV to be completed in in under 10 working days if required.

Maximum LTVs are 80% for refurbishment, 80% residential, 70% semi-commercial and 65% commercial. Flat rates start at 0.73% per month, with Stepped Rates starting from an initial 0.39% per month.

Applications are welcome up to £3m net with the product open to UK and overseas developers and investors for projects and capital raising on properties in England and Wales.

Aspen’s portfolio of bridging products are available for net loans between £200,000 and £15m.