Aspen Bridging has reduced new business lending by up to 80 basis points, increasing the maximum loan amount to £15m.
The lender's heavy renovation bridge products are now available with loan-to-value up to 75%, interest rates from 0.87%, and LTVs from 0.84% to 70%, both down 80bps. 
Current flat rates start at 0.79% per month, a 60bps decrease.
The company's tiered interest rates start at an initial rate of 0.45% per month, which is reduced by 40 bps.
It also increased the maximum loan amount to £15m net, an increase of £5m.
“This move has been made to continue our expansion in London's super prime and large scale development exit space,” the company said.
The company added that the move is aimed at serving its customer base of UK developers and overseas investors working on projects in England and Wales.
Jack Coombs, Managing Director of Aspen Bridging, said: “As we look forward to 2025, we are more confident than ever in our ability to serve brokers and their customers. That is why we are expanding our services while introducing some of our best-in-class services. We have taken significant steps to ensure competitive rates in the market. ”
