Aspen launches 85% LTV refurb bridge and slashes rates across range
By Tara SammonsDay one refurb funding now available up to 85% LTV
Section: Products
Aspen has launched its new 85% LTV day one refurbishment bridge, with drawdowns up to 75% LTGDV, available at 0.79% pm.
The new product, which is also available on the lender’s no valuation offering at 0.84% pm, includes heavy works and is specifically targeting developers.
Aspen has simultaneously cut its residential bridging rate at 70% LTV by 60bps to 0.69% pm.
Additionally, on its five-year bridge-to-let, Aspen has reduced its term rates by 20bps down to 6.79% p/a for UK borrowers and to 6.89% p/a for foreign nationals.
Jack Coombs, COO at S&U PLC, parent company of Aspen (pictured above), said: “We are committed to giving property professionals the flexibility, certainty and competitive pricing they need to move projects forward.
“By introducing 85% LTV day one refurbishment finance alongside rate reductions across our bridge to let and residential bridging ranges, we’re strengthening our position as a leading specialist lender.”
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