Aspen Bridging launches five-year semi-commercial bridge-to-let product

By

Jack Coombs

Aspen Bridging has expanded its bridge-to-let range with the launch of a five-year semi-commercial product, offering up to 75% loan-to-value (LTV).

The new product is designed to support investors and developers working across mixed-use assets, combining an initial bridging period with a longer-term serviced facility.

Bridging rates start from 0.79% per month for up to 24 months, followed by a serviced period with rates from 6.94% per annum over one, two or three years. The product is available for loans of up to £15m.

The facility can utilise Aspen’s ‘No Valuation’ process, alongside no searches and dual representation legals, with underwriting completed upfront using a single facility letter and initial valuation across both phases.

Across its wider bridge-to-let range, Aspen offers flat rates from 0.69% and stepped rates from 0.35%, with up to 80% LTV available for refurbishment and development exit scenarios during the initial bridging phase.

All products are available to UK and foreign national borrowers, including expats, with remote legal processes used to support transaction speed.

Jack Coombs, Chief Operating Officer at S&U PLC, parent company of Aspen, said:

“A standalone semi-commercial product marks a natural progression of our bridge-to-let range, and the leverage on offer will open up a wider range of opportunities for investors and developers.

We are confident the extended term and pricing will be well received by both borrowers and brokers.”

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