Initial bridge rate was 0.89% for six months, followed by 6.74% over two years for the BTL period.

Last month, the lender completed a £6.3 million funding package, supporting a developer with two separate residential projects in Bath and Cheltenham.

Three apartments in the Bath scheme have already been sold off-plan ahead of completion.

New rate cuts include a 60bps reduction for 80% Heavy Refurbishment loans and stepped rates starting at 0.39% per month.

The deal was completed at 75% loan-to-value with a 0.39% initial rate.

Aspen has recently reduced its heavy refurb rate to 0.78% 

No Valuation refurbishment loans now offer up to 80% LTV, increased from 75%.

The facility was issued at 65% LTV on a 16-month term with a flat rate of 0.78%.

Heavy refurbishment loans have been reduced by 72bps to 0.83% pm at 80% LTV.

The deal was completed on Aspen’s Flat Rate at 0.87% over 12 months, while the exit will be achieved through the sale of the property.