WHY & WHEN
Our specialist HMO product supports purchases, refinancing and capital raising on licensed HMO’s at up to 70% LTV.
Our specialist HMO product supports purchases, refinancing and capital raising on licensed HMO’s at up to 70% LTV.
| KEY CRITERIA | |
|---|---|
| Max LTV | 70% LTV |
| Valuation basis | OMV 180 day |
| Uses | Purchases, refinances & capital raising |
| Properties | Licensed HMO’s |
| Areas | England & Wales |
| Security | 1st charge |
| Sizes | £150k - £5m net |
| Terms | 12-18 months |
| Integrated Legals | Available - 2 firms 1 process |
| Borrower type | Individual & Corporate |
| Borrower residency | UK & Foreign |
| Interest basis | Retained |
| Customers | Clean credit & non-PEP's |
| FLAT RATE PRODUCT | |
|---|---|
| RATE | |
| All clients & LTV's | 0.84% - 0.89% |
| STEPPED RATE PRODUCT | |
|---|---|
| All types & LTV's | RATE |
| Initial Rate | 0.44% - 0.54% |
| Initial Term | 6 m |
| Total Term | 12 m |
| Secondary rate | 1.24% |
| Exit fee | 1 month's interest |
Register as an introducer HERE.
Send an enquiry to enquiries@aspenbridging.co.uk or call an underwriter on their mobile directly (c.30 mins) or use the portal to generate a quote yourself (instant).
Quotes will include integrated legals contact and fees – this is a specialist borrower solicitor service integrated with our lenders solicitors’ firm to maximise speed whilst offering independent advice.
Submit the preferred option on our online portal with basic info on customers, the security and the solicitors.
You will be notified which underwriter your case is assigned to and within 3 hours you will receive a DIP post credit and land reg searches which will include case-tailored forms.
Return the 1-page Authorisation Form and we will instruct the lawyers and valuers within 1 hour of receipt. Clients will need to put solicitors in funds for undertakings and pay valuers directly.
We will share reqs list information with you every step of the way and work to help you and your client through to completion.
Aspen releases funds for completion and pays introducers within hours of completion.
Aspen provided a 70% LTV bridge and are funding works in arrears (up to 100% of build cost) to fund the purchase and student HMO conversion of this terraced property in Nottingham.
HMO's can be an excellent source of passive income and are becoming an extremely popular investment choice for all levels of investors and landlords.
The client secured our rate of 0.59%, and a term of 12 months and Saif Khalique, underwriter at Aspen, handled the case from start to finish.
If you or your clients have a similar deal or want to explore your refurbishment bridging options, send us an email
enquiries@aspenbridging.co.uk or click the link to register for our online self-quoting portal.
Aspen provided a 68% LTGDV bridge and are funding works in arrears (up to 100% of build cost) to fund the conversion to HMO of this terraced property in Wales.
Two foreign developers purchased a pub in late 2019, with intentions to convert the asset into a large 20 bed HMO. Having successfully been granted Suis Generis planning, they now sought a low cost development facility.
The deal was introduced by Win Hashtroodi of Capricorn Commercial and underwritten by Jamaal Mckoy was quick to provide terms within the 15 min SLA, which resulted in the clients locking our flat rate product at 0.89% on a 14 month term.
Our funding will be drawn down in 4 stages with a facility of £235,000 to see the works through to the finish. A special thanks to Ayesha Yunus - Solicitor of Ola Leslie Solicitors, who completed the remote signing of the legal documents well past midnight to work around the clients timescales.
Our residential product supports purchases, refinances and capital raising on investment properties at up to 75% LTV.
This unique product enables genuinely urgent transactions at up to 65% LTV at initial quote stage and is guaranteed in under 10 (and can be as fast as 2) working days.
This specialist product covers conversion schemes, Finish & Exits, structural works and extensions all at up to 75% LTV plus 100% cost of works.
Our specialist HMO product supports purchases, refinancing and capital raising on licensed HMO's at up to 70% LTV.
Our commercial offering covers prime commercial and semi-commercial properties within the new class E and B8 categories at up to 70% LTV.
A rapid £2,327,250, 73% loan-to-value bridging loan from Aspen has saved a customer's £125k auction purchase deposit and provided additional funding on a part-finished development.
Completed in just 15 days at 0.49% for six months on the lender's stepped rate product, the deal brings together both a rapid auction purchase and finish-and-exit elements under one roof.
The auction purchase, a six-bedroom semi-detached in Wandsworth, was bought at the end of August with the monies required within a 15 day period.
The part-finished development project, a five-bedroom terraced property in the same area, was purchased in 2019 and still has £140k works outstanding. The deal also includes 100% works funding.
READ MOREAspen Bridging,
No. 2 Stratford Court,
Cranmore Boulevard,
Solihull,
B90 4QT
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