Aspen Bridging has cut new business loans by up to 80 basis points and boosted its maximum loan size to £15m.
The lender’s heavy refurbishment bridge product is now available up to 75% loan to value with rates from 0.87% and 70% LTV from 0.84%, a drop of 80bps for both.
Its flat rates now start from 0.79% per month, a decrease of 60bps.
The firm’s stepped rates begin at an initial rate of 0.45% per month, a reduction of 40bps.
Also, it has raised its maximum loan size to £15m net, a £5m uplift.
“This move has been made to continue to expand in the London super-prime and larger scale development exit spaces,” the business says.
The measures, the firm adds, are designed to serve its customer base of UK developers and overseas investors for projects across England and Wales.
Aspen Bridging managing director Jack Coombs says: “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.”
