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We’ve revamped our residential product range

23 Oct 2018 By Octopus Real Estate

We’ve revamped our bridge-to-let, development exit and refurbishment products. The changes further enhance our competitive and flexible lifecyle lending proposition and are in direct response to demand from its increasingly diverse range of property profressionals.

We’ve reduced rates to 6.99% per annum for our established bridge-to-let product and development exit products. The products have a minimum loan size of £500k and loans over £10m will be considered. The bridge-to-let product sits perfectly within our lifecycle lending proposition, giving investors and developers the ability to refinance their completed schemes whilst giving them the option of either selling or retaining the properties. Both products also have the option for a 12-month ERC free period.

Our refurbishment product, increasingly popular at a time when parts of the UK housing market are cooling, covers most types of refurbishment, from light works through to full conversions. The product now offers some of the lowest rates in the market, 0.8% per month, as well as a maximum loan-to-value of 75% net on day one, 90% loan-to-cost and 70 loan-to-gross development value, supporting the increasing number of borrowers seeking alternative ways to achieve favorable returns on their property investment and development.

Key features of the new products include:

Bridge-to-let

– Rates from 6.99% per annum
– Available on loans from £500,000
– A maximum loan-to-value of 70%
– An ERC free period of 12 months

Development exit

– Rates from 6.99% per annum
– Available on loans from £500,000
– A maximum loan-to-value of 70%
– An ERC free period of 12 months
– Cash able to be retained from sales of individual units

Refurbishment

– Rates from 0.8% per month
– Maximum loan-to-value of 75% (net)
– Maximum loan-to-cost 90%
– Maximum loan-to-gross development value 70%

We’ve revamped our bridge-to-let, development exit and refurbishment products. The changes further enhance our competitive and flexible lifecyle lending proposition and are in direct response to demand from its increasingly diverse range of property profressionals.

We’ve reduced rates to 6.99% per annum for our established bridge-to-let product and development exit products. The products have a minimum loan size of £500k and loans over £10m will be considered. The bridge-to-let product sits perfectly within our lifecycle lending proposition, giving investors and developers the ability to refinance their completed schemes whilst giving them the option of either selling or retaining the properties. Both products also have the option for a 12-month ERC free period.

Our refurbishment product, increasingly popular at a time when parts of the UK housing market are cooling, covers most types of refurbishment, from light works through to full conversions. The product now offers some of the lowest rates in the market, 0.8% per month, as well as a maximum loan-to-value of 75% net on day one, 90% loan-to-cost and 70 loan-to-gross development value, supporting the increasing number of borrowers seeking alternative ways to achieve favorable returns on their property investment and development.

Key features of the new products include:

Bridge-to-let

– Rates from 6.99% per annum
– Available on loans from £500,000
– A maximum loan-to-value of 70%
– An ERC free period of 12 months

Development exit

– Rates from 6.99% per annum
– Available on loans from £500,000
– A maximum loan-to-value of 70%
– An ERC free period of 12 months
– Cash able to be retained from sales of individual units

Refurbishment

– Rates from 0.8% per month
– Maximum loan-to-value of 75% (net)
– Maximum loan-to-cost 90%
– Maximum loan-to-gross development value 70%

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