Aspen Bridging said it had completed £30m of new loans last month across 33 deals.
The deals were submitted by around 28 broker firms, with deals ranging from £175,000 to £4.6m and the lender’s no-valuation deal proving the most popular.
Aspen Bridging said the launch of its updated reduced rates and increased loan to values (LTVs) in mid-July has boosted its “already strong pipeline of applications”.
The rate card includes a heavy refurbishment deal at 80% LTV cut to 0.78% per calendar month, a drop of 0.6%.
The firm has also launched a no-valuation refurbishment deal at 80% LTV at 0.83% per calendar month.
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Stepped rates for both deals were cut and are available from 0.39% per month, a 0.5% decrease.
Aspen Bridging has also launched 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.
Jack Coombs, managing director of Aspen Bridging, said: “The business is developing at an exponential rate; we are growing by at 25% year-on-year and have a strategy in place to ensure we continue to beat this mark. This is why I can confidently state we will hit £1bn in the next year.”
