Aspen cuts rates and ups maximum loan
Aspen Bridging has cut rates across the majority of its product portfolio by 0.1% and increased its maximum loan size to £10m.
Prime flat rates start at 0.64% for residential, 0.69% for light development, 0.74% for houses in multiple occupation (HMOs) and 0.79% for commercial.
Loan-to-values (LTVs) are available up to 75% with loan terms running from 10 to 18 months.
The lender’s rapid desktop valuation bridge has been reduced to 0.74% and its LTV has 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, having stood at 0.44%.
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.”