Aspen cuts bridging rates

The reduction, from the previous range of 0.49 to 0.59 per cent, is immediately available across all its first and second charge unregulated residential and commercial products regardless of loan-to-value (LTV), loan term, property type and loan purpose.

Aspen has increased its maximum loan sizes up to £4m net for portfolios and £2m net on single properties and also launched flexible loan extensions.

Aspen Bridging director Jack Coombs (pictured) said: “We constantly monitor the market to see how we can make our products more competitive, and today’s significant rate cut as a ‘summer special’ offer is another step in maintaining a market leading position.”

He added that the lender’s loan book was growing substantially and that it intended to maintain its proactive approach.