Aspen Bridging has secured repeat business from a UK developer following the swift delivery of a £750,000 development exit loan, completed in just 10 working days.

The borrower, an experienced family-run firm, had recently completed a scheme comprising two four-bedroom semi-detached homes in the Cotswolds village of Chedworth.

One of the finished units was used as security to refinance a maturing facility and release capital to fund the developer’s next project.

The new 12-month facility was written at 75% LTV on Aspen’s stepped rate product, starting at 0.39% per month. The lender confirmed that both units have received all necessary building control signoffs and are due to be sold as the exit strategy.

Pleased with the speed and quality of service, the developer has returned to Aspen for further funding on a separate scheme, which is now progressing through the legal stage.

The case was managed from start to finish by underwriting manager Richard Tweddell, in line with the lender’s one-person-per-case service model.

Tweddell commented: “Consistently meeting expectations means understanding each applicant’s project, requirements and completion timeframes. At Aspen, our exceptional service levels truly differentiate us as we deliver what we promise, it’s one of many reasons quality, experienced developers use us time-and-time again.”