Mark Posniak

Octane creates waiting list for BTL offering after strong demand




Octane Capital has announced it has created a waiting list for its new BTL offering following strong demand from brokers.

As reported in the latest issue of Bridging & Commercial Magazine, Octane’s BTL product requires zero stress-testing — which is a major challenge for brokers and landlords in an increasingly conservative lending environment.

“When we initially launched, we restricted the product to a select group of partners who have supported our bridging, refurbishment, and developer exit loans, in order to iron out any creases,” said Mark Posniak, managing director at Octane Capital (pictured above).

“But, in recent weeks, we’ve had so many brokers approaching us that we’ve had to create a waiting list to start getting the product into the wider market — while at the same time maintaining the service levels we value so highly.” 

The product — which is also available to first-time buyers, foreign nationals and limited companies — has a pay rate from 3.99% and no ERCs payable in the final two years of the term. 

In addition, Octane has condensed the application process for its BTL loans to two pages, significantly reducing time to completion. 

“What we now know for sure is that this product is pressing all the right buttons in the current climate and we’re as keen as anyone to make it available to all,” Mark added.

Brokers can join the waiting list here.

 

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