Jack Coombs

Brokers urge Aspen Bridging to up max loan size




As part of its service excellence programme, Aspen Bridging has undertaken its first broker survey where 66% of respondents rated its service as excellent, while 34% felt it was good.

The survey featured responses from 77 individuals.

Its LTVs were considered market leading or good by 99% of respondents and its rates were considered fair (competitive) by 92%.

Some 95% judged its procuration fees as fair.

Interestingly, the research found that 48% of respondents believed that Aspen’s maximum loan size was too low.

Its current maximum loan size is £1.5m for portfolios and £1m on single properties.

Chris Whitney and Callum Taylor, both at Enness, claimed that Aspen’s service was the best provided by any lender “by a country mile”, however, they argued that its maximum loan sizes were too small.

Jack Coombs, director at Aspen Bridging (pictured above), said: “Naturally we are delighted that our service excellence targets are all being achieved and widely recognised by the broker community, but, of course, we want to do more business and to meet our customer needs in terms of larger loans.

“We will be taking immediate action on this point, [and] a meeting has been arranged with the executive directors where all the findings can be openly discussed, and we will decide if our loan size criteria can be adapted.”

Last week, Aspen revealed its time-based service excellence targets, which showed that the lender aims to take the majority of business from enquiry to completion in just three to 10 days.

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