Aspen Bridging

Aspen announces permanent rate change

Aspen Bridging has announced it will indefinitely offer fixed rates from 0.64% for prime residential purchase and refinance deals up to 70% LTV.

Aspen’s rate card also offers 75% LTV for residential and light refurbishment priced at 0.69%.

Applications are open to UK and overseas borrowers, either individuals or corporates, for properties across England and Wales up to a maximum loan size of £10m.

The decision follows a surge in applications prompted by September’s ‘Lend a Hand’ offer, which saw the lender’s applications increase by 32% against August and by 36% compared to September last year.

Throughout last month, Aspen also saw 50% of new loans completed within 20 days and 67% in under 30 days of initial application, lower than the average completion time for Q2 2021 of 47 days revealed by the latest Bridging Trends figures.

“This has placed us among some of the most competitive lenders, however our main differentiation remains our timed service proposition which ensures deals will be completed as efficiently as claimed,” said Jack Coombs, director at Aspen Bridging (pictured above).

“Brokers know this, which is why we saw a surge in demand in time with the September rates offer and which is why, following this good response, we will maintain this rate going forwards.”

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