The changes see flat rates starting from 0.79% per month, a further decrease of 60bps, while stepped rates now have an initial rate of 0.45% per month, a reduction of 40bps.
The lender’s development exit and refurbishment bridging offering is available at 80% LTV with rates of 0.89% and up to 75% LTV at 0.84%, both lowered by 50bps.
Aspen’s heavy refurbishment bridging product is now available up to 75% LTV with rates from 0.87%, and 70% LTV from 0.84%, a drop of 80 bps for both.
In addition, the lender’s maximum loan size has been increased to £15m net, an uptick of £5m.
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This move has been made to continue the lender's expansion in the London super-prime and larger-scale development exit spaces.
The news follows Aspen’s recent completion of a £7.8m bridging loan for a super-prime property in Kensington, London.
Jack Coombs, managing director at Aspen Bridging (pictured above), said: “As we step into 2025, we have never felt more confident in our ability to serve our brokers and their clients, that is why we have taken key steps to widen our offering while introducing some of the most competitive rates in the marketplace.”
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