An article published by Real Estate Capital Europe explains that unlike conventional bridging finance which expires after 18 months, ASK can lend for up to a 36-month period in a bridge-to-sale or bridge-to-exit scenario where for example, a development loan has expired but the borrower cannot yet sell the asset.
ASK’s new loan product for built assets in the living sector explained
Elliot Blatt, Head of Origination at ASK, said:
"This is exactly the scenario where this product can meet developers' needs and especially where traditional finance is not an option because of interest coverage ratios, a criteria which we do not impose on borrowers. In the current market a flexible financing option such as this is key for developers who need time to realise profit targets on their assets."
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