Aspen Bridging has announced the introduction of desktop valuations as the specialist finance industry adjusts to the coronavirus pandemic.
The lender said it is accepting applications up to £1m net at a maximum 62.5% LTV for residential light refurb projects. Flat rates are starting at 0.89% with terms running from 12 to14 months, while stepped rates are starting at an initial 0.59% up to a maximum of 12 months.
Aspen revealed it will continue to supply a fully-costed quote in 15 minutes and will move from a submitted DIP to a post-search DIP in a maximum of three hours.
The firm said that experienced underwriters will still handle applications from start to finish and visit sites as soon as possible, with all meetings to be done by Facetime. The lender added that its legal partners will operate with full remote capacity and pay-out functions.
Aspen director, Jack Coombs, said: “The measures we have introduced, based around desktop valuations, will ensure that we can continue to lend while the market goes into lockdown.
“We have an extremely strong funding position through our parent company, and this enables us to be more flexible in our offering. A level of continuation is crucial for the bridging market, our broker partners and their customers, and we are doing our utmost to deliver certainty in uncertain times.”
Latest News
-
House price growth slows to 3% – ONS
-
Inflation remains unchanged at 3.8% in September
-
£8.8bn worth of BTL loans advanced in Q2
-
Quilter reports third successive quarter of £2bn+ inflows
-
IHT receipts total £4.39bn in six months to September
-
Younger advisers more likely to work with new clients, study finds
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories