You are here: Home -

Aspen Bridging completes 40 per cent of deals in under 14 days

by:
  • 26/07/2022
  • 0
Aspen Bridging has said it managed to complete over 40 per cent of deals in under a fortnight in the six weeks up to 22 July 2022.

The lender said in the same period last year it completed 21 per cent of deals in under two weeks.

During the period, in which over £20m was lent, Aspen said over a third of applications were completed at 80 per cent loan to value (LTV) across its bridge to let, residential and development exit and refurbishment products.

The quickest completion was a £255,000 loan at 75 per cent LTV on its no valuation product, written in just six days. Across the same timeframe, the rates completed on started at 0.39 per cent stepped and 0.69 per cent flat.

According to the latest Bridging Trends figures, in the first quarter of 2022 the market average completion time stood at 53 days.

Jack Coombs (pictured), director at Aspen Bridging, said: “Our time-based service excellence proposition has been central to our introducer and borrower experience since the business was founded, and with new staff, integrated legals and ever improving technology, we are taking applications to completion in ever quicker timescales.

“While achieving this we remain true to our other core principles which set us apart from the competition, namely one-person-per-case application handling and visiting every property we lend on, as well as timely updates to borrower and introducer to enable cases to achieve a swift completion.”

Related Posts

Tags

There are 0 Comment(s)

You may also be interested in