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Aspen completes £450k bridge on eco-friendly development

by: James Staunton
  • 17/12/2020
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Aspen completes £450k bridge on eco-friendly development
Aspen Bridging has completed a £450k facility to fund the final build stages of a Passivhaus development in Hertfordshire.

 

The case was introduced by Xcel Finance director Jamie Lloyd and the development utilises a different method of construction to achieve improved environmental results.

To ensure building work continued as scheduled – and having self-funded the development until it was wind and water-tight – the developer required the funds in six days from application.

Aspen noted that due to the unusual construction type it required greater knowledge of the effect building certification would have on the valuation and legal processes.

Passivhaus completed on Aspen’s stepped rate product at 0.59 per cent per month over a 12-month term.
Aspen Bridging lends on a maximum LTV of 75 per cent on loans up to £3m net.

 

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