The transaction ensured the acquisition of an exceptional four-bedroom penthouse apartment which extends to over 3,000 sq ft in the heart of the Royal Borough of Kensington and Chelsea.

The property features a 360-degree wraparound balcony with uninterrupted views across London's most recognisable landmarks, a private hot tub terrace and outdoor entertaining areas.

The purchaser, a foreign national investing through a Spanish-registered corporate entity, secured the asset at an attractive auction price and will retain the property as a long-term investment within the private rental sector.

The bridge was finalised on a Flat Rate of 0.84% per month over nine months and allows for the borrower to optionally transition, using the same facility documentation, onto a serviced BTL period at 6.89% per annum over two years.

It is the second case completed in quick succession by Underwriting Manager, Richard Tweddell who also oversaw a £1.9m Bridge To Let facility on a luxury apartment in Mayfair for an overseas investor operating through a Singapore corporate structure.

Richard said: “Auction purchases demand certainty and speed above all else, with the client’s timeline set from the moment the hammer falls. Here we were also navigating a foreign national investing through an overseas corporate structure, adding layers of legal and underwriting complexity.

“That we were able to complete this within just three weeks, and only days after our Berkeley Square facility, reflects the capability we have built in serving international clients at the prime end of the market.”

Aspen’s award-winning Bridge To Let product combines the speed and works-funding of a bridge with the flexibility and certainty of a BTL.

Applicants can opt for a bridge or development loan of up to 24 months followed seamlessly by a BTL which can run up to three years. The product can be used to support residential, semi-commercial and commercial projects for UK and foreign nationals on properties across England and Wales.

Flat Rates start at 0.69% and Stepped Rates from 0.35% followed by a serviced buy to let period at 6.89% per annum. The maximum loan size is £15m with LTVs of up to 80%.