Octopus Property cuts rates on its residential bridging loan range
New bridging rates are the first instalment of a comprehensive product update that will be rolled out during the course of 2017
Short- and medium-term lender, Octopus Property, part of 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.”
For journalists in their professional capacity only. Personal opinions may change and should not be seen as advice or a recommendation. We do not offer investment or tax advice. Issued by Octopus Property. Octopus Property is the trading name of Bridgeco Ltd (Reg No 6629989), Fern Trading Ltd (Reg No 6447318), Nino Ltd (Reg No 9015082), Octopus Property Lending Ltd (Reg No 7531926) and Octopus Co-Lend Ltd (Reg No 8913299), Registered Office: 33 Holborn, London EC1N 2HT, registered in England and Wales and Dragonfly Finance S.ar.l. (Reg No B189290) Registered Office: Parc d’Activité Syrdall, 6 Rue Gabriel Lippmann, L-5365, Munsbach, Luxembourg registered in Luxembourg. Octopus Property Lending Ltd and Octopus Co-Lend Ltd are authorised and regulated by the Financial Conduct Authority. Issued February 2017.