Aspen drops rates with broad reductions up to 72bps
Aspen has responded to the latest Bank of England base rate reduction with the launch of a new Rate Card, showing cuts of up to 72bps across several of its most popular products.
Residential bridging is now 0.78% pm at 75% LTV, a reduction in pricing of 72 bps.
Heavy Refurbishment is now available at 0.83% pm at 80% LTV and 0.78% pm at 75% LTV, falls of 72bps.
Stepped Rates, which are available for all products and clients, are now available from 0.39% pm marking another reduction of 72bps.
In addition its No Valuation rates have dropped to 0.84% pm at 75% LTV, a decrease of 60bps.
Aspen’s popular 2-year BTL pay rate, which is also available for foreign nationals, is now 6.49% pa, a reduction of 25 bps.
The lender is simultaneously launching a new larger loan offering with flat rates from 0.75% pm and stepped rates from 0.39% pm for loans above £2m up to £15m net.
Jack Coombs, managing director at 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.”