Aspen Bridging welcomed more than 100 brokers to its inaugural Spring Party last week, held at the recently launched Kitty Hawk Rooftop Bar overlooking Trafalgar Square.
With views of Nelson’s Column forming a striking backdrop, guests were offered a first look at Aspen’s latest rate reductions and the introduction of a new Structured Finance offering for larger loans. Managing director Jack Coombs confirmed the lender has reduced its bridging and buy-to-let rates by as much as 72 basis points, alongside launching a new flat and stepped-rate product range for loans from £2m to £15m net.
The lender also used the event to signal its intent to pass a significant milestone this year, with a lending target of £1 billion. Coombs emphasised the importance of broker relationships in achieving the firm’s growth ambitions.
“We are fortunate to have such excellent broker partnerships and it was great to celebrate with them at our first Spring Party,” he said. “This new annual event is about forging closer relationships and getting brokers face-to-face, not just with sales but also the underwriting and credit teams. Specialist finance is a people industry and our trusted relationships help us drive growth.”
Earlier this week, Aspen confirmed it had responded swiftly to the Bank of England’s latest base rate cut with a revised rate card across a range of its most popular products. Its residential bridging product now starts at 0.78% per month at 75% LTV, while heavy refurbishment rates have also dropped to 0.83% per month at 80% LTV and 0.78% at 75% LTV — each a fall of 72 basis points.
The lender’s stepped rates, available across all products and client types, have been cut to as low as 0.39% per month, and its No Valuation offering has been reduced by 60 basis points to 0.84% per month at 75% LTV.
The newly launched Structured Finance range offers both flat rates from 0.75% per month and stepped rates from 0.39% per month for loans in excess of £2m and up to £15m net.
Aspen’s Spring Party, which the company intends to make an annual fixture, reflects the lender’s strategy of deepening broker engagement through face-to-face collaboration with its wider team — a move it says is critical to driving service improvements and sustainable lending growth.
