Aspen cuts rates and doubles maximum loan size

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 bridge, which was launched in January and offers completion within a maximum of 10 working days, has been reduced to 0.74%. The LTV has also been increased to 70% from 65%.

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

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

Jack Coombs, director at Aspen Bridging, said: “Our team at Aspen is committed to offering a best-in-class service based on time-based service targets to brokers and borrowers.

“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.

“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.”