Aspen Bridging launches three year bridge to let product

By Bridging Loan Directory 13th January 2025

Aspen Bridging has updated its award-winning bridge to let (BTL) product with the launch of a new three-year hybrid offering.

Applicants can now opt for a nine-to-12-month bridging loan followed immediately by a two-year BTL option. The loan is fully underwritten upfront and uses one facility letter and one initial valuation for both elements.

The product is designed for foreign nationals, heavy refurbishments and semi-commercial borrowers who require both the flexibility of bridging, offering no requirement of UK footprint and full funding of heavy works projects, combined with the certainty of having a multi-year BTL thereafter.

The product is available with BTL rates from 6.79% per annum with initial bridging rates from 0.79% per month.

Aspen is also offering the product using Docusign and no search indemnity to simplify the legal process.

The maximum loan size is £5m with LTVs of up to 80% and the product is available to fund projects and investment properties across England and Wales.

Jack Coombs, Managing Director at Aspen Bridging, said:

“We are very positive that out new three-year Bridge To Let will appeal strongly both to foreign investors and also to UK developers as it offers them true bridging, such as lending without UK footprint and support for heavy works, combined with the certainty of BTL funding after the bridge.”