The specialist lender’s new mobile app enables KYC submission and electronic ID verification and credit check approval within five minutes.
Octane has also condensed the application process for its currently soft-launched BTL loans to two pages, which brokers can complete on their client’s behalf, further reducing time to completion.
“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,” said Jonathan Samuels, CEO at Octane Capital (pictured above).
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“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 at 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.”
At the end of June, Octane announced it had promoted three members of its senior team.