Octane Capital, the multi-award winning specialist finance house, offering bridging finance, and refurbishment finance has significantly reduced its application process times for brokers and borrowers – in some instances halving the length of loan applications.
The lender reported that it will only take borrowers applying through the new mobile app just five minutes to navigate through the electronic ID verification, KYC submission and the electronic authority provision to ensure the required credit checks are completed.
The lender also announced a condensing of the application process to just two pages for its currently soft-launched buy-to-let loans.
Octane reported that this would allow brokers to complete this effortlessly on their client’s behalf — notably decreasing the time to completion.
Jonathan Samuels, CEO, Octane Capital (pictured above), said: “The feedback we’ve received on our new application process has been phenomenal and on the back of that we’ve embedded it in every loan we write.
“In the current climate, property investors are proving more active than ever, especially landlords due to the current stamp duty holiday, so radically streamlining our application process couldn’t have been more timely.”
Mark Posniak, managing director, Octane Capital, added: “Our sector is evolving at a rate of knots and we are investing heavily in technology and automation to ensure our brokers and their clients are always on the front foot.
“Since the lockdown has been eased, we’ve seen unprecedented demand from brokers and our new application process, which collapses the time to completion, is what everyone wants to see.”
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