Octopus Property launches new unregulated bridging product
- Replaces five existing products with one simple rate
- One of the most flexible and competitive products in the market
- Up to 70% LTV at 0.6% per month
Specialist property lender Octopus Property, part of the Octopus Group, today announces the launch of a new unregulated bridging product to replace all existing unregulated bridging products. It’s available to both new and existing customers.
The new product covers bridging loans between £100,000 – £500,000 at a maximum 70% loan to value, at a very competitive rate of 0.6% p.m. It is the latest innovative offering from Octopus Property as it continues to refine its range of products to make them simpler and more accessible to property professionals throughout London and the regions.
Key features of the new bridging product include:
- Loan size: £100,000-£500,000
- Term length: 12 months
- Interest rate: 0.6% per month
- No exit fees
D’mitri Zaprzala, Head of Sales at Octopus Property, commented:
“As market dynamics continue to evolve, we have been working closely with our brokers and borrowers to adapt our products to better meet their changing needs.
“This is a limited time offer, as we have a £30m tranche of funding. We expect a strong demand due to the simple nature of the product, and the fact it is one of the most flexible and competitive products in the market. We look forward to supporting brokers and borrowers with this offering.”
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 2019.