Aspen Bridging maintains starting interest rate of 0.45%
Aspen Bridging will continue to offer a starting interest rate of 0.45% up to 80% loan-to-value (LTV).
The lender announced the rate in July as part of its ‘summer special’ promotion, having previously stood at 0.49%.
Aspen’s 0.45% rate remains available across all its first and second charge unregulated residential and commercial products regardless of LTV, loan term, property type and loan purpose.
Jack Coombs, director at Aspen Bridging, said: “Since the summer the market has remained very aggressive, and to maintain our pipeline of business we need to continue to lead from the front.
“While many other lenders may use a low interest rate to ‘open the door’ to an applicant before increasing the figure during the process, we can comfortably say that all of our completed applications since July that are applicable to receive 0.45% do indeed drawdown at the advertised level.
“This is because our procedures from day one are extremely robust.
“Our service goes further than any other lender by offering one person per case, quick and accurate quotations, site visits from an experienced underwriter to every property at valuation stage and completions as fast as any in the industry.”
The lender is on track to double its loan book this year compared to the previous 12 months.