Aspen Bridging has announced that it has started 2025 with a fresh round of rate cuts and an increase to the maximum size of its loans.
Following the changes, flat rates now start from 0.79% per month, a further decrease of 60bps. Stepped rates are now from an initial rate of 0.45% per month, a reduction of 40bps.
The lender’s leading Development Exit and Refurbishment bridge is available at 80% LTV with rates of 0.89% and up to 75% LTV at 0.84%, both a reduction of 50bps. Aspen’s Heavy Refurbishment Bridge product is now available up to 75% LTV with rates from 0.87% and 70% LTV from 0.84%, a drop of 80 bps for both.
In addition, the lender’s maximum loan size has been increased to £15m net, an increase of £5m. This move has been made to continue to expand in the London super-prime and larger-scale development exit spaces.
These moves are focused on serving Aspen’s customer base of UK developers and overseas investors for projects across England and Wales.
Jack Coombs, Managing Director at Aspen Bridging, said: “As we step into 2025 we have never felt more confident in our ability to serve our brokers and their clients, that is why we have taken key steps to widen our offering while introducing some of the most competitive rates in the marketplace.”
