Octane creates waiting list for highly sought-after BTL loan
#3rdGen lender, Octane Capital, today announced it has had to create a waiting list for its new BTL offering given the sheer strength of demand from the broker community.
Octane’s BTL product requires ZERO stress-testing, which is one of the major challenges brokers and landlords are facing in an increasingly conservative lending environment.
The product, with a pay rate from just 3.99% and no ERCs payable in the final two years of the term, provides a flexibility that is simply unavailable elsewhere in the market. Reflecting this flexibility, it is even available to first time buyers, foreign nationals and limited companies.
In addition, Octane has condensed the application process for its buy-to-let loans to just two pages, which brokers can complete effortlessly on their client’s behalf — significantly reducing time to completion.
Mark Posniak, managing director, Octane Capital, commented:
“When we initially launched we restricted the product to a select group of partners who have supported our bridging, refurbishment and developer exit loans, in order to iron out any creases. But in recent weeks we’ve had so many brokers approaching us that we’ve had to create a waiting list to start getting the product into the wider market while at the same time maintaining the service levels we value so highly. What we now know for sure is that this product is pressing all the right buttons in the current climate and we’re as keen as anyone to make it available to all.”
Brokers keen to join the waiting list should sign up here.
