Aspen said its residential bridging is 0.78% per month at 75% loan to value (LTV) and its heavy refurbishment range is 0.79% per month at 75% LTV, both undergoing a fall of 0.72%.
Stepped rates are now available from 0.39% per month, also a fall of 0.72%.
No-valuation rates stand at 0.84% per month at 75% LTV, a decrease of 0.6%.
The lender’s two-year buy-to-let (BTL) pay rate, which is also available to foreign nationals, is 6.49% per year, a cut of 0.25%.
Aspen is also bringing out a larger loan offering with flat rates from 0.75% per month and stepped rates from 0.39% per month for loans above £2m up to £15m net.
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Jack Coombs (pictured), managing director of Aspen Bridging, said: “In this rapidly evolving financial market, it’s essential we ensure competitiveness, and these broad and significant reductions, alongside our excellent customer service, will ensure we are a leading lender for brokers’ quality clients.”
Aspen Bridging said it would be targeting around £250m in lending in 2025, a 25% growth of its loan book.
