Aspen backs developer's planning enhancements with £1,475,000 bridge

18 November 2025

An experienced developer who changed plans mid-build to maximise final sale value is on track to optimise profits thanks to a £1,475,000 Development Exit bridge from Aspen.

Having already spent £500,000 to buy the land and create the shell of a newbuild six-bedroom house with 7,500 square feet of floor space in Stone, Staffordshire the applicant submitted revised planning and required extra time for both approval and extended completion of works.

The developer, a returning borrower who has worked with Aspen on multiple occasions since 2018, received an initial £350,000 upfront to redeem the current lender and recommence works with a further £1,300,000 available to complete the project through drawdowns.

With the remodelling, extensive groundworks over the five-acre site and the addition of a swimming pool, final GDV is expected to be £2.8m.

The deal was completed at 70% LTV at 0.78% Flat over 12 months. Exit will be achieved through sale of the house.

In-line with the lender’s one-person per-case Customer Service Commitment the application was taken from start-to-finish by Director of Operations, Richard Coombs.

Richard said: “Aspen continues to attract strong repeat business from experienced developers, with returning borrowers recognising the value of our consistent service via our in-house monitoring team, decision making reliability and commercially competitive approach.

“This customer loyalty highlights the strength of our delivery in the financial sector and the trusted relationships we build throughout every project.”

Aspen’s portfolio of products includes Bridging, Ground Up Development and its award-winning Buy To Let. With a maximum loan size of £15m with LTVs up to 80%, the lender has established itself as a leading provider of refurbishment funding to UK and overseas developers and property professionals.