Aspen Bridging has increased its maximum loan sizes on portfolio and single properties with immediate effect.
Specifically, the lender has increased its portfolio properties maximum loan size from £1.5m net to £4m net, and on single properties, from £1m net to £2m net.
The increase comes after the lender asked a number of broker firms whether they thought the previous loan size was too small, which a substantial proportion – nearly half – agreed with.
Aspen Bridging claims that it processes the majority of cases it receives in three to 10 days.
Director Jack Coombs comments: “The decision, which represents a 166 per cent increase on portfolios and 100 per cent on single properties, shows we can adapt to feedback.”