Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.

£1.9m Mayfair Refinance Highlights Cross-Border Legal Complexities

A £1.9 million bridging finance deal has completed on a two-bedroom apartment overlooking Berkeley Square in Mayfair. The transaction involved a Singapore corporate ownership structure, requiring cross-border legal and underwriting coordination.

Specialist lender Aspen provided the Bridge To Let facility for the third-floor apartment. The borrower used the funds to redeem an existing £1.5 million facility and release additional capital for business purposes.

Cross-Border Coordination and Legal Requirements

The deal required solicitors in both the UK and Singapore to navigate the corporate structure and legal requirements, including document provision and signatory execution via international notaries. Aspen expedited the process by conducting an in-house property valuation on a Saturday, using its No Valuation product to meet the client’s timescales.

The bridging facility was finalised at a flat rate of 0.74% per month over eight months. It includes an option to transition onto a serviced buy-to-let period at 6.99% per annum over two years, using the same facility documentation.

Product Features and Market Context

Aspen’s Bridge To Let product offers loans of up to 24 months, followed by a buy-to-let period of up to three years. Flat rates start at 0.69% and stepped rates from 0.35%, with a serviced buy-to-let period at 6.89% per annum. The maximum loan size is £15 million, with loan-to-value ratios of up to 80%. The product supports residential, semi-commercial, and commercial projects for UK and foreign nationals on properties across England and Wales.

The transaction comes as the buy-to-let sector faces regulatory changes affecting landlords and investors. The completion of this deal demonstrates ongoing demand from international investors for prime central London property, while highlighting the additional legal and administrative requirements involved in cross-border ownership structures. The use of corporate vehicles and international notaries adds time and complexity to financing arrangements compared to standard domestic transactions.