Following the 5bps reduction, Aspen said applications increased by 32% against August, and by 36% based on September last year.
Aspen Bridging has revealed it will permanently offer fixed rates from 0.64% for its prime residential purchase and refinance deals up to 70% loan-to-value (LTV).
Following the 5bps reduction, Aspen said applications increased by 32% against August, and by 36% based on September last year.
In addition September saw the lender continue to set the benchmark for completions with 50% of new loans completed within 20 days, and 67% in under 30 days, of initial application.
Aspen’s ratecard also offers 75% LTV for residential and light refurbishment with rates of 0.69%.
Applications are open to UK and overseas borrowers, either individuals or corporates, for properties across England and Wales up to a maximum loan size of £10m.
Jack Coombs, director at Aspen Bridging, said: “This has placed us among some of the most competitive lenders, however our main differentiation remains our timed service proposition which ensures deals will be completed as efficiently as claimed.
“Brokers know this, which is why we saw a surge in demand in time with the September rates offer and which is why, following this good response, we will maintain this rate going forwards.”
