Aspen slashes rates and doubles maximum loan size

Aspen Bridging has cut rates across the majority of its product portfolio and doubled its maximum loan size to £10m.

Stepped rates are now available from 0.39% for an initial six-month term on all products and LTVs, having previously stood at 0.44%.

Prime flat rates now start at 0.64% for residential, 0.69% for light development, 0.74% for HMOs, and 0.79% for commercial. 

LTVs are available up to 75% with loan terms running from 10-18 months.

The lender’s rapid desktop valuation product — which offers completion within a maximum of 10 working days — has been reduced to 0.74%, with LTVs upped to 70% from 65%.

“Increasing our loan sizes and offering competitive rates shows our positivity both about the excellent partnerships we have and the new ones we are forging,” said Jack Coombs, director at Aspen Bridging (pictured above).

In Q2, the lender provided £51.3m, making it the company’s best ever quarterly performance. 

The completions were submitted by 30 different broker firms on properties in 21 counties across England and Wales.

More than one-third of deals completed were over £1m in loan size.

“Our recent quarterly performance was exceptional, and we believe we have the rate card and team in place to take the business onto greater heights,” Jack added. 

Applications remain open to UK and overseas borrowers, either individuals or corporates, for properties across England and Wales.

Leave a comment