Aspen Bridging cuts rates and increases maximum loan size

Aspen Bridging has reduced rates across its range by up to 80bps for all new applications and has introduced a higher maximum loan size of £15m net.

The cut sees flat rates starting from 0.79% per month, a decrease of 60bps, while stepped rates now start from 0.45% per month, a reduction of 40bps.

The lender’s development exit and refurbishment bridge is available at 80% LTV with rates of 0.89% and up to 75% LTV at 0.84%, both a reduction of 50bps.

Aspen’s heavy refurbishment bridge product is now available from 0.84% at 70% LTV and 0.87% at 75% LTV, a drop of 80bps for both.

In addition, the lender’s maximum loan size has been increased to £15m net, an increase of £5m. This move has been made to continue to expand in the London super-prime and larger scale development exit spaces.

Jack Coombs, managing director at Aspen Bridging, 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.”