LIGHT REFURBISHMENT

WHY & WHEN

Light refurbishment projects at up to 75% LTV and funds purchases, refinances, works and capital raising on investment properties undergoing non-structural works.

KEY CRITERIA
Max LTV 75% LTV
Valuation basis OMV 180 day
Uses Purchases, refinances, works & capital raising
Properties Residential investment
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 0.74% - 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

HOW IT WORKS

Step 0

Register as an introducer HERE.

Step 1

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.

Step 2

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.

Step 3

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.

Step 4

We will share reqs list information with you every step of the way and work to help you and your client through to completion.

Step 5

Aspen releases funds for completion and pays introducers within hours of completion.

CASE STUDIES

SURREY - £1.75M

LIGHT REFURBISHMENT

CLICK TO READ

The client needed £1.75m to fund light refurbishment works on this project and another development. Aspen overcame complex legals on the registration of the recent purchase to ensure the deadline was met.

Aspen provided 72% LTV on its First Charge Light Refurb product at a rate of 0.49% for the first five months of a 10-month term.

Aspen's Senior Underwriter Prabhat Talwar, who handled the case from start-to-finish, worked with the lender's lawyer, Leigh Haigh of Fieldfisher LLP who expedited the registration as a priority.

Romit Patel, Associate Director at LDN Finance, said: "I was really happy I recommended Aspen on the deal. When we have applications that require a certain level of attention and first class communication is absolutely critical, they deliver in all aspects for us and the client."

HANWELL - £1M

WORKS & SALES BRIDGE

CLICK TO READ

The borrower is a UK developer and a returning client who needed Aspen's facility to repay the development lender, finish the last works to the property and provide sufficient time to complete a sale.

Aspen provided 75% LTV on its First Charge Light Refurb product over a 12-month term.

Aspen's Senior Underwriter Prabhat Talwar, who handled the case from start-to-finish, worked with the lender's lawyer, Leigh Haigh of Fieldfisher LLP.

PRODUCT TYPES

RESIDENTIAL

Our residential product supports purchases, refinances and capital raising on investment properties at up to 75% LTV.

RAPID
DESKTOP

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.

LIGHT
DEVELOPMENTS

This specialist product covers conversion schemes, Finish & Exits, structural works and extensions all at up to 75% LTV plus 100% cost of works.

LIGHT
REFURBISHMENT

This product covers lighter refurbishments at up to 75% LTV.

HMO's

Our specialist HMO product supports purchases, refinancing and capital raising on licensed HMO's at up to 70% LTV.

COMMERCIAL &
SEMI-COMMERCIAL

Our commercial offering covers prime commercial and semi-commercial properties within the new class E and B8 categories at up to 70% LTV.

LATEST NEWS

ASPEN SOLVES TWO PROPERTY
PROBLEMS IN ONE £2.3M BRIDGE

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 MORE