The products, which were launched last year, were only available on an semi-exclusive basis, such as the loans within Waves 1 and 2 starting from £150,000. Now the entire range from Waves 1 to 5 are available to all brokers, which requires zero stress testing, with a pay rate starting at 3.99%.
Octane’s BTL offerings are tailored to customers that many lenders in the market tend to avoid, such as HMOs, first time landlords and foreign nationals.
Mark Posniak, managing director at Octane Capital, said: “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.”
Original article featured here…
Octane recently showcased its ability with non-mainstream BTL cases; the lender 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.