Aspen slashes rates and unveils 80% LTV no-valuation refurb bridge

Aspen Bridging has sharpened its proposition for UK developers by cutting refurbishment rates, increasing loan-to-values, and enhancing its award-winning no valuation bridging loan product as it aims to cement its position as a market leader in refurbishment funding.

The lender has reduced rates on its 80% heavy refurbishment product to just 0.78% per month, a drop of 60 basis points.

Its no valuation refurbishment product is now available at 80% LTV and 0.83% per month, up from the previous 75% LTV cap. Stepped rates on both products have also been lowered by 50bps, starting from 0.39% per month.

Aspen’s no valuation product, which uses in-house surveyors to issue post-valuation offers within 48 hours and requires no QS, can now also support refurbishment projects.

Borrowers benefit from streamlined service improvements, including Docusign legals, no-search indemnity, 100% of works funded, and 48-hour drawdowns paid directly.

Both products are available with the option of a fully underwritten one-year buy-to-let as a development exit or a two-year BTL stabilisation period, starting from 6.49% per annum.

Jack Coombs, Managing Director at Aspen Bridging, said:

“We’re determined to deliver a best-in-class product and service in the heavy refurbishment space, and these enhancements put us in an ideal position to meet developers’ needs head-on.”

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