Aspen Bridging introduces desktop valuations

The company is accepting applications up to £1m net up to 62.5 per cent loan to value for residential and light refurbishment projects.

Flat rates start at 0.89 per cent with terms running from 12 to four months with stepped rates starting at an initial 0.59 per cent up to a maximum of 12 months.

Aspen will continue to supply a fully-costed quote in the first 15 minutes and will progress the case from a submitted decision in principle (DIP) to a post-search DIP in a maximum of three hours.

All meetings that need to be carried out will be done using Facetime.

The lender’s legal partners will operate with full remote capacity and pay-out functions, it added.

Jack Coombs (pictured), director at Aspen Bridging, said: “The measures we have introduced, based around desktop valuations, will ensure that we can continue to lend while the market goes into lockdown.

“We have an extremely strong funding position through our parent company, and this enables us to be more flexible in our offering.

“A level of continuation is crucial for the bridging market, our broker partners and their customers, and we are doing our utmost to deliver certainty in uncertain times.”