Pivot has appointed Chris King as its new head of credit. King has worked in banking and property since 2005, bringing experience in portfolio management, originations, debt recovery, policy creation and governance to the role at the development funding specialist. His career has included roles at RBS, Williams & Glyn and Secure Trust Bank, where he spent almost seven years in total, first as head of the real estate finance business in London and then head of credit risk, managing a portfolio of around £1.3bn.

Aspen Bridging has enhanced its market proposition with its new 2025 rate card showing reductions of up to 80 bps for all new applications and a higher maximum loan size of £15m net. The cuts see flat rates starting from 0.79% per month, equating to a further decrease of 60 bps, while stepped rates are now available from an initial rate of 0.45% per month, a reduction of 40 bps. The lender’s leading development exit and refurbishment bridge is available at 80% LTV with rates of 0.89% and up to 75% LTV at 0.84%, both a reduction of 50 bps. Furthermore, Aspen’s heavy refurbishment bridge product has been dropped by 80 bps, while rates starting at 0.87% at up to 75% LTV and 0.84% at 70% LTV.

Bluestone Mortgages has reduced rates across its entire product range, including residential, right to buy and deposit unlock. Rates have been reduced up to 10 bps on the lender’s standard and fee-free product ranges, with rates now starting at 6.14% for a 65% LTV. All products come with no application fees and for customers remortgaging, Bluestone is offering free basic legal fees, or a £500 contribution to solicitors costs. These changes follow Bluestone’s criteria update, which raised the maximum LTV on its BBB product from 70% to 75%.

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