The experienced UK developer, operating as a family business, recently completed a development in the village of Chedworth in the Cotswolds comprising of two four-bedroom semi-detached properties.

One of the units is being offered as security to refinance their maturing facility and release capital for their next project.

The 75% LTV deal was completed on Aspen’s stepped rate on a 12-month term with an initial rate of 0.39%. Both units are finished with all building control signoffs granted, and exit will be achieved through sale of the properties.

The developer was so impressed with the lender’s speed and service that a further application is being progressed on a different development site and currently sits at the legal stage.

In line with Aspen’s one-person-per-case customer service philosophy the deal was taken from start-to-finish by Underwriting Manager, Richard Tweddell.

Richard said: “Consistently meeting expectations means understanding each applicant’s project, requirements and completion timeframes. At Aspen our exceptional service levels truly differentiate us as we deliver what we promise, it’s one of many reasons quality, experienced developers use us time-and-time again.”

Aspen Bridging has just launched its new Rate Card, with the lender positioning itself a leading provider of refurbishment funding to UK developers.

The lender has cut its 80% Heavy Refurbishment product to 0.78% pm, a fall of 60 bps. It has also enhanced No Valuation Refurbishment product to offer 80% LTV at 0.83% pm, which was previously only available at 75% LTV.

Stepped Rates are also reduced for both products and are available from 0.39% pm, a 50bps cut.

The lender also has a new larger loan offering with flat rates from 0.75% pm and stepped rates from 0.39% pm for loans above £2m up to £15m net.