OCTANE Release new BTL criteria and product guides

Thank you to everyone who dialled on to the call

For anyone who missed the call I’m happy to do another whenever you would like.

We are really excited about the launch of the new products. Hopefully we can drive some real volume together.

The key points to note are:

  • 5 Product ‘Waves’
  • Rates now start at 5.49% – with a 4.49% pay rate
  • 2, 3 or 5 year term
  • 65% LTV max for the time being
    (70% LTV for Wave 1 with no deferred interest)
  • No stress testing – we only need 100% rental cover of the pay rate
  • Difficult borrower scenarios:
  • Borrowers with a limited deposit
  • Foreign nationals
  • Ex Pats
  • Ltd companies
  • Offshore companies
  • Trusts
  • Adverse credit
  • Difficult property scenarios:
  • Low yielding property
  • Semi-commercial (up to 30% commercial)
  • Small & Large HMOs
  • Multi-unit freehold blocks
  • Residential above commercial
  • Ex Council
  • Planning irregularities

Note – we will eventually return to 75% LTV and will be introducing a new even cheaper rate in the next few weeks.

New BTL Products

I have attached the following to this email:

Process

Please send new enquiries to me via email and I will issue an AIP.

If, once you have an AIP, you wish to submit an application to us, follow the following steps:

  1. Email a completed version of the Application Form to me via email (no need for borrower ID or signature)
  2. Email the following link to your client – www.octanecapital.co.uk/apply (your client will need their smartphone to complete)

Any questions please do let me know.

t: 0345 222 9009

m: 07741 591922

– Josh Knight

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