"Since the summer the market has remained very aggressive, and to maintain our pipeline of business we need to continue to lead from the front."
Aspen Bridging has announced that it will continue to offer a starting interest rate of 0.45% up to 80% LTV.
The lender initially announced the rate change in July as part of its ‘summer special’ promotion, having previously stood at 0.49%, and says it wnts to capitalise on record summer and autumn periods.
Aspen’s 0.45% rate remains available across all its first and second charge residential and commercial products regardless of LTV, loan term, property type and loan purpose.
Jack Coombs, director at Aspen Bridging, said: “Since the summer the market has remained very aggressive, and to maintain our pipeline of business we need to continue to lead from the front.
“While many other lenders may use a low interest rate to ‘open the door’ to an applicant before increasing the figure during the process, we can comfortably say that all of our completed applications since July that are applicable to receive 0.45% do indeed drawdown at the advertised level.
“This is because our procedures from day one are extremely robust. Our service goes further than any other lender by offering one person per case, quick and accurate quotations, site visits from an experienced underwriter to every property at valuation stage and completions as fast as any in the industry.”