Aspen Bridging is proving a rate of 0.54% on all deals completed between 24 November and Christmas Eve.

The special Christmas rate reduction represents an 8.5% drop on the current initial rate of 0.59%, and is available up to £3m net and 75% LTV on Aspen’s 10-month stepped rate product.

The lender is also offering a ‘surprise’ present for every broker who completes a deal by 24 December.

Aspen’s stepped rate product covers residential and light refurbishment, residential and medium refurbishment, HMOs, prime semi-commercial and prime commercial property.

Jack Coombs (pictured), director at Aspen Bridging, said: “There’s no doubting it’s been a challenging year in the finance sector, so we’re looking to end 2020 on a high with a little Christmas cheer.

“And with our ‘time based service excellence promise’ there’s still plenty of time to get deals over the line.”

Aspen aims to take the majority of applications from enquiry to completion in three to 10 days, and will be utilising its integrated legal representation and video signature processes with desktop valuations where appropriate to ensure rapid drawdowns.