Aspen Bridging has cut its minimum and maximum initial interest rate per month by over 10% in a ‘summer special’ promotion, with the new rate range from 0.45% up to 0.55%.
The reduction, from the previous range of 0.49% to 0.59%, is immediately available across all its first and second charge unregulated residential and commercial products regardless of loan-to-value (LTV), loan term, property type and loan purpose.
Aspen has been very active this year in maintaining its strong product offering with maximum loan sizes increased up to £4m net for portfolios and £2m net on single properties and the launch of flexible loan extensions.
The company also revealed its time-based service excellence targets, which show that the business aims to take the majority of applications from enquiry to completion in just three to 10 days.
Jack Coombs, director at Aspen Bridging said: “We constantly monitor the market to see how we can make our products more competitive, and today’s significant rate cut as a ‘summer special’ offer is another step in maintaining a market leading position.
“Our service goes further than any other lender by offering one person per case, quick and accurate quotations, site visits from an experienced underwriting team to every property at valuation stage and completions from initial enquiry as fast as any in the industry.
“This is why our loan book is growing substantially, and we intend to maintain our proactive approach to ensure an upwards trajectory.”