Aspen provides £1.1m bridge at 77.5% LTV

Aspen Bridging has completed a £1,115,872 bridging loan at 77.5% LTV for a client looking to refinance an investment property.

The lender was introduced to the client by Alex Vickery from Y3S Bridging & Commercial.

The borrower had a prime, large semi-detached property in south-west London, which was being used as a buy-to-let.

The client had been looking to sell for a while, but due to problematic tenants, they had not been able to arrange viewings with agents.

As a result, they were looking to refinance a first and second charge mortgage as they were coming to the end of term.

When explaining the case, Y3S told Aspen about four major issues:

  1. poor credit due to BTL mortgage issues
  2. needed to get the maximum possible LTV for capital raise and refinance
  3. fast turnaround time required to avoid repossession
  4. viable sale period needed to achieve a competitive price.


Aspen immediately underwrote the case and identified that the client could obtain the funds required and capital raise via the maximum LTV possible.

The lender also booked in a valuation, which took place within 72 hours – inside the tight timeframe.

Aspen was able to complete the borrower interview and provide an action plan regarding the project within 48 hours, while initiating legal requisitions concurrently.

This meant that Aspen could provide the bridging loan at a term of six months within 14 days, giving the borrower breathing room to sell the property on their own terms at market value.

“My broker’s client was in a very difficult position that required [a] flexible and speedy service and Aspen Bridging delivered,” said Alex.

“Multiple lenders were considered before speaking to Aspen, but none of them offered what Aspen did [and] more importantly [it] delivered.”

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