Jack Coombs

Aspen Bridging cuts initial rates to 0.45%

Aspen Bridging has reduced its minimum and maximum initial interest rates per month in a special summer promotion.

The bridging lender’s new rates start from 0.45% and go up to 0.55% per month.

The reduced rates are available across all of its first and second charge unregulated residential and commercial products with immediate effect.

This is a reduction on its previous range of 0.49% to 0.59%.

The rates are unaffected by the loan’s LTV, term, property type and purpose.

Jack Coombs, director at Aspen Bridging (pictured above), said: “We constantly monitor the market to see how we can make our products more competitive, and today’s significant rate cut as a ‘summer special’ offer is another step in maintaining a market-leading position.”

Jack added that Aspen offered one person per case, quick and accurate quotations, site visits from an experienced underwriting team to every property at valuation stage, and quick completions from initial enquiry

“This is why our loan book is growing substantially, and we intend to maintain our proactive approach to ensure an upwards trajectory.”

This comes after Aspen Bridging increased the maximum loan size for portfolios to £4m net and for single properties to £2m net.

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