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.