Aspen unveils rate reductions

Published on

Aspen Bridging has reduced its rates by up to 60bps for all new applications.

Flat Rates now start from 0.85% per month, a reduction of 4 basis points (bps).

Stepped rates have also been cut and are available from an initial 0.59% per month, a reduction of 6bps, moving onto 1.25% per month secondary.

Residential & Development Exit rates are available at 0.87% at 75% LTV and & 0.85% at 70% LTV, while the lender’s Refurbishment bridge begins at 0.89% at 80% LTV.

Aspen’s No Valuation product, which removes the need for physical inspection to speed up the loan process, has an increased LTV of 75%, up 5%, with rates now available from 0.89% having stood at 0.94% previously.

The lender’s Bridge To Let product now starts with a servicing rate of 6.99%, previously 7.49%, plus 2% deferred as well as being opened up to foreign nationals and Refurbishment and Semi-Commercial loans.

Jack Coombs (pictured), managing director at Aspen Bridging, said: “We are extremely positive about the outlook for the UK property market over the coming year and our parent company, S&U is fully committed to investing in the growth of our bridging and bridge to let lending in this exciting space.

“As an equity-funded lender we remain truly agile in a competitive marketplace, which underpins our new rates which are skilfully supported by our best-in-class service proposition and our traditional USP’s of search indemnity, direct access to underwriters, no monitoring surveyors and docu-sign facilities.”

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Kuflink announces leadership change as CEO steps down

Kuflink has announced that CEO Narinder Khattoare will step down, marking the end of...

Norton Home Loans partners extends access to specialist solutions

Norton Home Loans has partnered with broker London & Country (L&C) Mortgages to widen...

Hinckley & Rugby for Intermediaries expands remortgage service with PEXA

Hinckley & Rugby for Intermediaries is expanding its partnership with PEXA and Optima Legal,...

Other news

Mortgage advisers failing over-50s on later life lending, Key warns

Mortgage advisers are not doing enough to support over-50s with later life lending options,...

Kuflink announces leadership change as CEO steps down

Kuflink has announced that CEO Narinder Khattoare will step down, marking the end of...

Norton Home Loans partners extends access to specialist solutions

Norton Home Loans has partnered with broker London & Country (L&C) Mortgages to widen...