Octane Capital is relaunching its bridging and refurbishment offering with immediate effect whilst the buy-to-let products will be launched in January with rates communicated at that time.
Specialist property lender elected to pause their fixed rate buy-to-let loan products in June amidst growing swap rate volatility.
In the weeks following Octane’s strategic decision, many other UK lenders followed suit and withdrew their fixed rate loans from the market too.
Jonathan Samuels, CEO at Octane Capital, said: “We are aiming to double our current loan book of £500m within the next three years using existing investor equity and institutional debt.
“Today’s introduction of these bold bridging and refurbishment rates provides the foundation from which we will achieve that aim as a leading specialist property lender in the UK.
“We are tackling the 2023 property market head-on and see recent turbulence as a significant opportunity.”
Highlights from Octane’s bridging and refurbishment offering includes bridging variable rates starting from BBR plus 0.37% pm and refurbishment variable rates starting from BBR plus 0.4% pm.
As well as this, Octane will provide leverage up to 70% LTV.
Samuels added: “We are committed to our famously open-minded approach in considering complex cases and continue to specialise in what may be considered ‘difficult’ deals that other lenders may automatically turn down.
“These are exciting times for Octane Capital in our quest to double our loan book in the next two to three years and the revised structure provides for that.”
