The experienced UK developer had recently completed four newbuild properties on a plot in Biggleswade, Bedfordshire, putting one four-bedroom detached house forward as security to cover the £740k redemption while using the remaining £310,000 to secure new land.

The deal was completed at 75% LTV at 0.83% Flat over a 10-month term. Exit will be achieved through sale of house, with the bridge also creating extra time for the developer to realise maximum value.

In-line with the lender’s one-person per-case Customer Service Commitment the application was taken from start-to-finish by Senior Underwriter, Laura Randall.

Jack Coombs, Chief Operating Officer at S&U PLC, parent company of Aspen, said: “It’s always a pleasure to welcome back a repeat customer, not only because it simplifies the process but because it is proof of our truly exceptional service levels.”

Aspen’s portfolio of products includes Bridging, Ground Up Development and its award-winning Buy To Let. With a maximum loan size of £15m with LTVs up to 80%, the lender has established itself as a leading provider of refurbishment funding to UK and overseas developers and property professionals.