Flat rates now start from 0.85% per month, a decrease of 0.04%, while stepped rates have also fallen and are available from an initial 0.59% per month, a reduction of 0.06% moving onto 1.25% per month secondary.
Residential and development exit rates are available at 0.87% at 75% LTV and & 0.85% at 70% LTV, while the lender’s refurbishment bridge begins at 0.89% at 80% LTV.
The lender’s no valuation product has an increased LTV of 75%, up 5%, with rates now available from 0.89%, down from 0.94%.
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Also included in the changes is the firm’s bridge to let product, which now starts with a servicing rate of 6.99%, previously 7.49%, plus 2% deferred and being open to foreign nationals and refurbishment and semi-Commercial loans.
Jack Coombs, managing director at Aspen Bridging (pictured above), said: “We are extremely positive about the outlook for the UK property market over the coming year and our parent company, S&U is fully committed to investing in the growth of our bridging and bridge to let lending in this exciting space.”
Bridging loan sizes remain available up to £10m net for UK and overseas borrowers, both individuals and corporate businesses, for properties across England and Wales.
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