"We’ve had to create a waiting list to start getting the product into the wider market while at the same time maintaining the service levels we value so highly."
Octane’s buy-to-let product requires no stress-testing, which is one of the major challenges brokers and landlords are facing in an increasingly conservative lending environment.
The product, with a pay rate of 3.99% and no ERCs payable in the final two years of the term, is available to first time buyers, foreign nationals and limited companies.
In addition, Octane has condensed the application process for its buy-to-let loans to just two pages, which brokers can complete on their client’s behalf.
Mark Posniak, managing director of Octane Capital, commented: “When we initially launched we restricted the product to a select group of partners who have supported our bridging, refurbishment and developer exit loans, in order to iron out any creases.
"But in recent weeks we’ve had so many brokers approaching us that we’ve had to create a waiting list to start getting the product into the wider market while at the same time maintaining the service levels we value so highly. What we now know for sure is that this product is pressing all the right buttons in the current climate and we’re as keen as anyone to make it available to all.”
