Aspen Bridging raises maximum LTV to 75%
Jack Coombs

Aspen Bridging raises maximum LTV to 75%



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Aspen Bridging has increased its maximum LTV to 75%, in addition to raising its top loan amount to £3m net.

The lender — which will be utilising both physical and desktop valuations — can provide finance on residential properties for loans up to £1m net and a maximum 75% LTV, using desktop valuations where needed.

An experienced underwriter will visit each property and meet the client either in person or via facetime. 

As part of its new rate card, Aspen’s flat and stepped-rate products include residential and light refurbishment, residential and medium refurbishment, HMOs, prime semi-commercial, and prime commercial property. 

All flat rate products are offered at 0.89%, with terms running from 12 to 14 months.

Its stepped-rate products carry an initial rate of 0.59% for six- to 12-month terms.

Both products are available to UK and foreign borrowers.

The full rate card can be viewed on Aspen’s website.

“During the crisis, we stayed true to our bridging market commitments, a decision which was warmly welcomed by the broker community and, as such, applications have continued to be submitted at exceptionally good levels," said Jack Coombs, director at Aspen Bridging (pictured above).

“Our new rate card takes our commitment still further, with the upper 75% LTV and £3m maximum net loan amount among the best in the market.

“We have also learnt how to further streamline our processes during lockdown, and that is why physical and desktop valuations will continue to be utilised, which mark another exciting step forward.
 
“Everything we do is based around service, and we will do whatever is necessary to be the best in the market.”
 
The lender stated it had continued to strive to meet its time-based service excellence targets, which aim to take the majority of applications from enquiry to completion in just three to 10 days.

Last week, Aspen joined the specialist mortgage lender panel of network Beneficial and, in April, announced it would lend on pre Covid-19 property values

It had initially introduced desktop valuations at the beginning of April, accepting applications of up to £1m net, at a maximum 62.5% LTV for residential and light refurb projects. 

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