Octopus supporting customers impacted by BTL pause
Mario Octopus

Octopus supporting customers impacted by BTL pause

Octopus Property has stated that it is working closely with its brokers and clients to arrange replacement loans following its pause on accepting new residential BTL and commercial term product applications.

The lender revealed yesterday that it was pausing new applications on these after it was inundated with deal flow to the point that it had filled its allocated budget for term funding well ahead of schedule.

Bridging & Commercial contacted Octopus to see how it was helping customers who had been impacted by the announcement and Octopus said that it is contacting those affected. 

“It is business as usual for all our products other than the residential BTL and commercial term loans, where, as previously confirmed we have been inundated with demand and deal flow so have taken a pause,” said Mario Berti, CEO at Octopus Property.

“With regard to these products, we are working closely with our brokers and clients individually to do everything we can to arrange a replacement loan for them with minimal disruption.”

Sign up to our newsletter to receive more news like this story

I accept that by joining the B&C mailing list, I will receive relevant news and promotional material via B&C on behalf of its partners and advertisers. Your data will not be passed on to any third party.
No, thanks, just the news please.

Leave a comment

Blonde teen Lidsey posing for you