This unique product enables genuinely urgent transactions at up to 65% LTV at initial quote and potentially higher thereafter and is guaranteed in under 10 (and can be as fast as 2) working days.
|Max LTV||65% LTV (quote stage)|
|Valuation basis||OMV 180 day (resi) & VP 90 (commercial)|
|Uses||Urgent transactions either refinance or purchase or capital raise for another transaction|
|Properties||Residential investment, commercial & mixed|
|Areas||England & Wales|
|Sizes||£150k - £5m net|
|Integrated Legals||Available - 2 firms 1 process|
|Turn-around||2-10 working days|
|Borrower type||Individual & Corporate|
|Borrower residency||UK & Foreign|
|Customers||Clean credit & non-PEP's|
|FLAT RATE PRODUCT|
|All types & 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|
|Exit fee||1 month's interest|
Register as an introducer HERE.
Send an enquiry to email@example.com 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 has completed two auction purchase deals in five days each for one applicant. Both cases had entered notice period deadlines and needed fast solutions to enable completion.
The first was in July to purchase and renovate a detached property in Birmingham. Aspen rapidly provided a £193k bridge at 73% LTV with a six month rate of 0.59% per month.
The borrower returned in August for a £128k bridge to secure a three-bedroom terraced in Solihull which required renovation. The deal was also at 73% LTV with a six-month rate of 0.59% per month.
Prabhat Talwar, Senior Underwriter at Aspen took both applications from start-to-finish.
In both instances a fully-costed quote Aspen undertook desktop valuations and visited both properties in person to review and provide the valuer with measurements and photos within 24-hours of the cases being introduced, and on the same day issued formal lending offers via solicitors.
Aspen has completed a £1m bridge in four working days for an experienced Hong Kong based buy-to-let investor and saved a £100k deposit.
The lender was approached on December 3rd with a hard deadline of December 8th as the notice to complete had already been served on a newly refurbished three-bedroom maisonette in Holland Park.
Day one a fully underwritten formal DIP was issued, legals issued and a desktop valuation instructed and returned by close of play.
Day two documentation was signed remotely in Hong Kong and a courier assigned to quickly bring the documents back to the UK.
The £1m, 69% LTV agreement was completed on the lender's flat rate product at 0.89% per month over a 10-month term and was handled from start-to-finish by Aspen Bridging Underwriter, Saif Khalique.
Winston Hashtroodi at Capricorn Commercial said: "What you see here is as good as lending can ever get in United Kingdom. Aspen make it possible for us to do what we do best, and that is helping our clients achieve their financial needs as quickly as they need to."
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.
This product covers lighter refurbishments at up to 75% LTV.
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 MORE