Aspen Bridging has reduced its product rates and brought in a new ‘Rapid Desktop Valuation’ service.

The rate cuts consist of the stepped rate moving from 0.49 per cent to 0.44 per cent and the fate rate going from 0.84 per cent to 0.74 per cent.

The lender adds that with its new Rapid Desktop Valuation, cases can be completed in two working days and are guaranteed to be so within 10. Initial quotes are offered at up to 65 per cent LTV. Aspen says that this can “potentially” be increased later.

In late January this year, Aspen raised the maximum loan size across its product range from £3m to £5m.

Aspen Bridging director Jack Coombs says: “We always strive to be competitive and creative which is why the new rates, and the introduction of Rapid Desktop Valuation and the recently launched Light Development bridge, puts us in a fantastic position to break all of our lending records in 2021.

“We are a lender that is keen to offer clients a best-in-class service and we keep our rates and products flexible.”