Octane Capital opens popular buy-to-let product to all brokers
#3rdGen lender, Octane Capital, today announced its entire buy-to-let product suite, which has a pay rate starting at 3.99%, is open to all brokers with immediate effect.
Previously, loans starting from £150,000 within Waves 1 and 2 were available on a semi-exclusive basis only.
Octane’s highly popular buy-to-let product requires zero stress-testing, which is one of the major challenges brokers and landlords are facing in an increasingly conservative lending environment.
Octane is targeting borrowers that most other lenders actively avoid, specifically first time landlords, foreign nationals, MUFBs (multi-unit freehold blocks), HMOs (houses in multiple occupation), limited companies and other non-standard structures.
Mark Posniak, managing director, Octane Capital, commented: “We’re excited to announce that our full buy-to-let product suite is now open to everyone. In recent months, we’ve been further fine-tuning it and putting systems in place to ensure we could continue to provide a high quality service for brokers at scale and now we’ve reached that point. Our buy-to-let loans are targeting a demographic that the vast majority of lenders actively avoid, with many of our borrowers to date having multiple non-standard circumstances. But this is where we believe we stand apart as a lender and we look forward to helping as many brokers as possible during 2021.”