Aspen updates rates and launches rapid desktop product
Aspen has revamped its 2021 offering with its Stepped Rate cut to 0.44%, its Flat Rate reduced to 0.74%, and the launch of a Rapid Desktop Valuation bridging product.
The rates, which are down from 0.49% and 0.84% respectively, are immediately available across all products up to a maximum loan size of £5m net and 75% loan-to-value (LTV) across six to 18 months.
In addition, the lender has introduced a new Rapid Desktop Valuation bridge, whereby cases can be completed in as little as two working days and are guaranteed within 10 working days.
This product offers up to 65% LTV at initial quote stage which can potentially increase thereafter.
To meet the timescale, the quotes will include integrated legal contact and fees, a specialist borrower solicitor service integrated with the lenders own legal firm to maximise speed whilst offering independent advice. Borrowers can still opt to use their own representation if desired.
All the information and more has been captured in a new broker-focused website, which features interactive application portals designed to simplify and accelerate the applications process.
Jack Coombs (pictured), director at Aspen Bridging, said: “We always strive to be competitive and creative which is why the new rates, and the introduction of Rapid Desktop Valuation and the recently launched Light Development bridge, puts us in a fantastic position to break all of our lending records in 2021.
“We are a lender that is keen to offer clients a best-in-class service and we keep our rates and products flexible.”
The lender’s Light Development product came to market at the start of January.
Covering residential conversion schemes, finish and exit projects, structural works and extensions plus lighter refurbishments, it is available up to 75% LTV with 100% cost of works in arrears.
Other products in the lender’s portfolio include Residential, Rapid Desktop, Light Development, Light Refurbishment, HMOs, Commercial and Semi-Commercial.
Applications are open to UK and overseas borrowers, either individuals or corporates, for properties across England and Wales.