The loan was provided to an Indian national residing in Dubai and is secured on an unencumbered flat in London.

The borrower was introduced by Rey Capital Limited, an appointed representative of Connect Mortgages.

Despite the property’s low rental yield, Octane was able to offer the loan at 70% LTV on a five-year term due to the lender’s product not involving stress testing.

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Mark Posniak, managing director at Octane Capital (pictured above), said: “This deal highlights why our BTL product has proven so popular and how it differs from the mainstream. 

“Our product is designed to help brokers with cases that do not fit with the majority of BTL lenders.”

Kevin Thomson, sales director at Connect for Intermediaries, commented: “Connect has long been recognised as a specialist in the BTL market and, as a result, we have built strong relationships with our lender partners, such as Octane Capital. 

“This case is clearly one that falls out of the mainstream, but with specialist lending solutions, like the one provided by Octane, we can support our ARs and enable them to provide necessary solutions for their clients.”