Aspen records best quarter yet with £53.1m of lending on broad range of cases

The deals ranged from larger cases, such as a £4.5m development exit loan secured against a detached property in Kent,to the smaller such as a £215,000 light development deal on a detached Norfolk property.

Some 30 per cent of loans completed were sized at or above the £1m mark. The terms ranged from 10 to 18 months, with loan to values up to 75 per cent.

Completions were submitted by 30 broking firms on properties in 21 counties in England and Wales.

The products included the lender’s Rapid Desktop, Light Development, Medium Refurbishment, Residential Investment and Commercial offerings.

The property types covered terraced, semi-detached and detached houses, flats, semi-commercial premises, retail outlets, office buildings and warehouses.

Jack Coombs, director at Aspen (pictured), said: “2021 has been an exceptional year so far, with this quarter easily surpassing our previous three-month record set in Q3 2020. 

“The range of cases shows we have become a trusted lender across a variety of requirements, with development exit, foreign purchase and light development very much a focus.”

 “This was achieved by our great team working hand-in-hand with our introducers and our partners at Fieldfisher LLP, VAS Group and CVS,” Coombs said.