Aspen Bridging completed over 40% of deals in under 14 days in the six weeks up to July 22, 2022.
During this period, in which over £20m was lent, over a third of applications completed at 80% LTV across its Bridge-To-Let, Residential and Development Exit and Refurbishment products.
The quickest completion was a £255k loan at 75% LTV on the No Valuation product, written in just six days. Across the same timeframe the rates completed on started at 0.39% stepped and 0.69% flat.
Across the same period last year, Aspen completed 21% of deals in under two weeks.
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.
“As a lender we are continually seeking to lead the way in service excellence.”
