Aspen Bridging has reduced rates for all new applications by up to 0.8% and upped its maximum loan size to £15m net.
Aspen Bridging’s bridging rate changes see its flat rates beginning from 0.79% per month, a cut of up to 0.6%. Its stepped rates start from 0.45% per month, a lowering of 0.4%.
The firm’s development exit and refurbishment bridge is available at 80% loan to value (LTV) with rates of 0.89% and up to 75% LTV at 0.84%. This represents a fall of 0.5%.
Aspen Bridging’s heavy refurbishment bridge is available up to 75% LTV with rates from 0.87%, and at 70% LTV, the price stands at 0.84%. This is a drop of 0.8%.
The maximum loan size has been upped to £15m net, a rise of £5m. The increase will allow it to continue to grow its London super-prime and larger-scale development exit spaces.
The lender said the changes would help serve its customer base of UK developers and overseas investors.
The realities of retrofitting
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Jack Coombs (pictured), managing director of 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.”
