Aspen Bridging has completed five drawdowns on five different products in a single day, with a combined total value of £3.4m.

The deals took place on Friday 14 January and consisted of a £1.575m Marshall Island-based corporate newbuild apartment purchase, a £889k foreign national new build apartment purchase, £347k and £315k Light Development projects and a £315k No Valuation Auction Finance purchase.

The properties were based in London, Newport, Southend and Swindon and completed with the majority on Aspen’s stepped rate at 0.49% per month and its fixed rate at 0.79% per month.

The average loan term is 11 months, with exit being realised through a mixture of sales and refinance.

Cases were introduced through five different brokers.

Ian Miller-Hawes (pictured), head of sales at Aspen Bridging, said: “We have set ambitious business growth targets for 2022 and we have started the year very much on the front foot with completions every single day in January, including the magnificent five on Friday 14th which were all on different products.

“The pipeline of new applications from both UK and overseas borrowers is already healthy and growing by the day, with a mixture of new and well known brokers introducing cases.

“At the start of February we will be launching a raft of new products which will make us even more competitive in the marketplace, all backed up by our service delivery commitment which is second-to-none in the bridging finance sector.”