Aspen has launched a new refurbishment finance product offering 85% LTV on day one, with drawdowns up to 75% LTGDV, priced at 0.79% p/m. The refurbishment finance product covers heavy works and targets developers. It is also available through the lender’s No Valuation offering at 0.84% p/m. Aspen has cut rates elsewhere in its range. On its five-year Bridge-to-Let, term rates fall by 20bps to 6.79% p/a for UK borrowers and 6.89% p/a for foreign nationals. The lender has also reduced its residential bridging rate at 70% LTV by 60bps to 0.69% p/m. Aspen lends from £150k up to £15m and offers refurbishment finance to UK and overseas developers and property professionals.
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