Octane Capital, the multi-award winning specialist finance house offering bridging finance and refurbishment finance, has shown its ability with non-mainstream BTL cases. The lender has completed a £420,000 loan to an Indian national, who is currently residing in the UAE, which is secured on an unencumbered flat in London.
As Ocatane’s BTL product does not include stress testing, it had the ability to offer the loan at 70% LTV on a five-year term, despite the property’s low rental yied.
Mark Posniak (pictured), managing director of Octane Capital, added: “This deal highlights why our buy-to-let product has proven so popular and how it differs from the mainstream. Our product is designed to help brokers with cases that do not fit with the majority of buy-to-let lenders.
“In this case, for example, we were lending to a foreign national borrower on a low yielding property at a high LTV – something that most lenders simply would not be able to do.”
Original article featured here…
In January of this year, Octane expanded its sales team to help achieve their ambitious 2021 targets.