octopus real estate

Octopus Real Estate returns to BTL market with new product

Octopus Real Estate has re-entered the BTL market with the launch of a new residential product.

The offering has been introduced in response to the increased opportunity in the BTL market.

According to the lender, investment into this sector has expanded beyond the urban hubs to suburban areas, as people’s working and living arrangements change as a result of Covid-19.

Octopus’s new product is designed to navigate complex cases that often fall outside of mainstream lending criteria, including the high street banks.

It offers loans from £50,000 up to 75% LTV, with rates starting from 5.49%.

The product, which is open to all brokers, has no minimum income requirement and is available for properties in England and Wales, including HMOs, semi-commercial and MUFBs.

It can also be used for short-term lets, as well as by expats and foreign nationals.

Steve Matthews, head of BTL sales at Octopus Real Estate (pictured above), said: “The pandemic has meant that many people will rethink their living arrangements, and there is a clear opportunity for the BTL market to unlock alternative homes for people over the coming year. 

“However, many borrowers are missing out on the opportunity as they don’t meet mainstream lending criteria — we want to change this. 

“Working in partnership with our broker community, we think there is an exciting opportunity to grow the market and reach those underserved borrowers to allow them to take advantage of external market conditions. 

“We’ve worked hard to develop a product that will enable us to deliver through popular transaction times and help a wide range of borrowers become landlords, realising the potential of a BTL investment.”
D’mitri Zaprzala, head of residential at Octopus Real Estate, added: “We have always been committed to the BTL market and now is the right time for us to return. 

“We have spent the last few months speaking to and listening to our broker community to understand what they really want from a specialist lender. 

“We found that brokers want a lender who is dependable, so we have put this at the heart of our product, which can support complex cases and address the underserved part of the market.” 

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