Aspen signs Heter Iska agreement opening door to Jewish property professionals

Published on

Aspen Bridging has signed a Heter Iska agreement allowing the business to finance Jewish property professionals for the first time.

This action opens up a whole new market for the lender and marks a significant step towards achieving its £250 million lending target for 2025.

The Heter Iska agreement, which has been authorised with Rabbi Eli Brief of the Union of Hebrew Congregations, is a Jewish religious compliance document that restructures a loan as an investment partnership.

This in turn enables finance agreements between members of the Jewish faith in a way that is permissible under Jewish law.

The move represents the first time that Aspen Bridging will be able to lend to the Jewish community given its parent company, S&U Plc has a longstanding Jewish shareholding in the FTSE listed business.

MILESTONE DEVELOPMENT
Jack Coombs, Aspen Bridging
Jack Coombs, Aspen Bridging

Jack Coombs, managing director of Aspen Bridging, said: “We are delighted to have signed this Heter Iska which allows for us to engage with Jewish property investors and developers, and we are excited to begin discussions with them and their broker community imminently.

“This is a milestone development for the business, opening up a whole new market of hugely prevalent property professionals.”

Rabbi Eli Brief added: “We very much welcome Aspen Bridging to the ever-increasing list of Heter Iska lenders and trust that this will lead to a mutually beneficial relationship with the members of our Jewish community.”

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

LendInvest buy-to-let rates at lowest level since 2021

LendInvest has announced a round of rate cuts across its buy-to-let mortgage range, marking...

Rental yields hold firm as landlords maintain appetite for expansion

Landlords across England and Wales are continuing to enjoy stable rental yields and remain...

LiveMore enters Growth 500 with 721% revenue rise over three years

LiveMore, the specialist mortgage lender catering to customers aged 50 to 90 plus, has...

Hinckley & Rugby trims rates across whole offering

Hinckley & Rugby for Intermediaries has announced sweeping rate reductions of up to 23...

Inspired Lending aids stalled Devon scheme with £800k finish and exit loan

Inspired Lending has completed an £800,000 funding deal to support the completion of a...

Latest opinions

We need to look again at two-year swaps…

Over the last 12 months, we’ve seen three notable things happen in the swaps...

How product transfers can help landlords and brokers in a challenging market

In an ever-changing buy-to-let market, the task of managing a property portfolio becomes increasingly...

Finding the ‘yes’ on finance for trading businesses

Pressure on UK trading businesses continues to mount, driven by rising costs, tight cash...

Bridging finance for refurbishment – is it light, medium or heavy?

Not all refurbishment projects are created equal. The type of works being undertaken will...

Other news

We need to look again at two-year swaps…

Over the last 12 months, we’ve seen three notable things happen in the swaps...

LendInvest buy-to-let rates at lowest level since 2021

LendInvest has announced a round of rate cuts across its buy-to-let mortgage range, marking...

Rental yields hold firm as landlords maintain appetite for expansion

Landlords across England and Wales are continuing to enjoy stable rental yields and remain...