Offering a reduction of 0.05 per cent, the move saw applications increase by 32 per cent against August, and by 36 per cent based on September last year.
In addition, September saw the lender continue to set the benchmark for completions with 50 per cent of new loans completed within 20 days, and 67 per cent in under 30 days, of initial application. According to the latest Bridging Trends figures, in the second quarter of 2021 the market average stood at 47 days.
Jack Coombs, director at Aspen Bridging said: “This has placed us among some of the most competitive lenders, however our main differentiation remains our timed service proposition which ensures deals will be completed as efficiently as claimed.
“Brokers know this, which is why we saw a surge in demand in time with the September rates offer and which is why, following this good response, we will maintain this rate going forwards.”
Aspen’s rate card also offers 75 per cent LTV for residential and light refurbishment with rates of 0.69 per cent.
Applications are open to UK and overseas borrowers, either individuals or corporates, for properties across England and Wales up to a maximum loan size of £10m.