"This is exactly the kind of situation that our Stepped Rate product is designed for, a quick solution to an unforeseen situation that ultimately puts the client in control, giving them the flexibility to repay the bridge early if they so decide"
- Richard Coombs - Aspen Bridging
Having built two new four-bedroom houses in the Dorset village of Lychett Matravers, the developer planned to exit their existing finance agreement through the sale but then found themselves requiring a bridge to redeem their existing development loan whilst also allowing further time for a controlled sales process.
The deal, which was finalised in just 20 days, completed on the lender’s Stepped Rate product at an initial 0.69% per month over 10 months.
In line with Aspen’s Customer Service Commitment, the deal was taken from start to finish by Richard Coombs, Credit Analyst at Aspen Bridging.
Richard said: “This is exactly the kind of situation that our Stepped Rate product is designed for, a quick solution to an unforeseen situation that ultimately puts the client in control, giving them the flexibility to repay the bridge early if they so decide.”
If you’re exploring bridging or development finance, get in touch and we can connect you with the right lender.
