The £602,000, 70% LTV loan was completed on Aspen’s stepped rate product at a rate of 0.54% per month over the 12-month term.
Located in Wembley, the property houses a betting shop on the ground floor and two two-bedroom flats on the first level.
The borrower plans to exit through refinancing.
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The case was overseen by Aspen underwriter Laura Randall, who faced several layers of security checks in order to access the property due to the large amounts of cash kept on the premises, according to Aspen.
Ian Miller-Hawes, head of sales at Aspen, said: “There are certain types of commercial property that lenders will not touch, such as betting shops, because the amount of work required to take the case for completion is substantial.
“This isn’t an issue for us, we’ll ensure the customer wins every time.”
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