Short- and medium-term lender, Octopus Property, part of the Octopus Group, today announced a significant rate reduction on its bridging loan range across all major LTV bandings. With immediate effect, the following rates apply:
Octopus Property Bridging Loan Range 2017
|LOAN-TO-VALUE||INTEREST RATE (PM)|
|Up to 50%||0.60%|
The new rates are the first instalment of a comprehensive product update by Octopus Property of its entire loan range that will be rolled out during 2017 in order to deliver an even more compelling proposition to brokers and their clients.
In the months ahead, the lender will be announcing improvements across its entire lending suite, including buy-to-let, commercial, refurb and development. To date, Octopus Property has completed on over £2.3bn of loans.
Mario Berti, CEO, Octopus Property, commented:
“The overhaul of our product range that we will be announcing in 2017, starting today with our bridging loans, is the most significant since we started trading back in 2009. The sector has evolved considerably over the past eight years and we felt it was time to evolve our own proposition fundamentally in order to continue to provide a best-in-class offering. With these market-leading bridging rates, we want to send a clear message to the broker community that we are very much open for business. It goes without saying that, as well as some of the best rates available, brokers will also enjoy the service levels and flexibility that Octopus Property has always been renowned for.”
About Octopus Property
Octopus Property is a London-based short and medium-term finance provider, having lent over £2.3 billion since inception. It is committed to providing its key partners and clients with exceptional service and a flexible, highly competitive product range. Its services focus on five key areas: bridging loans of between one and 12 months; medium-term buy-to-let loans of between 12 months and three years; commercial property finance; second charges; and development and mezzanine finance.
Octopus Property and Octopus Healthcare merged to form Octopus Real Estate.