Aspen Bridging has revealed it is increasing its maximum LTV to 75% and raising its top loan amount to £3m.

The lender also suggested it is utilising both physical and desktop valuations as it continues to respond to the coronavirus pandemic.

In its new rate card, Aspen announced that its flat and stepped rate products include residential and light refurbishment, residential and medium refurbishment, HMOs, prime semi-commercial and prime commercial property.

The lender’s flat rate products are offered at 0.89%, with terms running from 12 to 14 months, while the firm’s stepped rate products carry an initial rate of 0.59% for six to 12 month terms. Both products are available to both UK and foreign borrowers.

Aspen director, Jack Coombs, commented: “During the crisis we stayed true to our bridging market commitments, a decision which was warmly welcomed by the broker community and as such applications have continued to be submitted at exceptionally good levels.
 
“Our new rate card takes our commitment still further, with the upper 75% LTV and £3m maximum net loan amount among the best in the market.
 
“We have also learnt how to further streamline our processes during lockdown, and that is why physical and desktop valuations will continue to be utilised, which mark another exciting step forward. Everything we do is based around service, and we will do whatever is necessary to be the best in the market.”

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