Aspen has provided finance for a high net worth individual with a £7,825,000 residential purchase bridge on a super-prime property in Kensington, London.
A Nigerian national required the funds in six weeks to secure a luxury four-bedroom apartment in Lancer Square, a collection of 36 apartments and penthouses immediately behind Kensington Palace Gardens and just off Hyde Park.
The lender utilised their bespoke remote signing and witnessing agreements for international clients to ensure the funds were available on the exact day required.
The deal was completed at 72% LTV on Aspen’s Stepped Rate starting at 0.59% over 10 months. Exit will be realised through a buy-to-let mortgage.
“We have built a strong reputation for delivering on large ticket-sized loans”
The application was taken from start-to-finish by head of underwriting, Saif Khalique.
Khalique said: “This year we have completed bridging loans on several super-prime properties in Kensington and surrounding areas for both British and foreign nationals.
“We have built a strong reputation for delivering on large ticket-sized loans where reliability pays and for being able to move quickly and seamlessly to meet the demands of high net worth individuals looking to seize new and pressing opportunities to grow their portfolios.”
