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.

Last month, the lender announced the successful completion of its first seven-figure transaction using its recently launched RomaPRO buy-to-let product.

Bridging rates have dropped from 5.53 times the cost of buy-to-let loans in Q4 2021 to just 2.44 times in Q4 2024.

Valuations for the transaction were undertaken by JLL, and legal due diligence was provided by Clarion.

The lender's new zero-fee buy-to-let products start from 5.74%.

60% of private rental homes in England and Wales are rated EPC D or below, meaning 1.6 million properties would need retrofitting annually to meet 2030 targets.

The deal was completed on Aspen’s stepped rate at an initial 0.55% over a 10-month term.

Bank of England governor Andrew Bailey says inflation easing was behind the decision to cut.

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Average rent arrears rose 23% year-on-year to £2,237 in Q1 2025.