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LTV: 41% LTV day one, net of interest, plus 100% of the cost of the conversion costs, at 65% LTGDV
Rate: 0.47% per month + BBR
Solution: Octane’s loan helped our borrowers acquire a 3-bedroom house in Portsmouth. Their plan was to convert the property into a 7-bedroom HMO but it did not have planning permission at the time we lent. We permitted the borrower to apply for planning permission for the 7-bedroom scheme during the term of our loan, with the fall-back option being a 6-bedroom permitted development scheme if planning were to be declined.
LTV: 41% LTV
Rate: 0.38% per month + BBR
Solution: Octane’s loan was secured against this unencumbered holiday let. Our funds allowed our borrower to purchase further properties, whilst they waited for this one to sell.
LTV: 65% LTV
Rate: 0.39% per month + BBR
Solution: Octane’s loan was to a Hong Kong national and resident, and helped them acquire a 3-bedroom house in Altrincham. Having been let down by a mainstream lender after contracts had been exchanged, we needed to step in and complete quickly.
LTV: 70% LTV day one, net of interest, plus 100% of the cost of the conversion costs, at 65% LTGDV
Rate: 0.42% per month + BBR
Solution: Octane’s loan helped our borrowers acquire this 3-bedroom house in North London with a purchase bridge. They successfully worked up planning permission to complete a side extension and a loft conversion to make space for 2 further bedrooms. Octane’s refurbishment loan provides 100% of the funds needed to complete the project, with fees only charged on new monies borrowed.
LTV: 68% LTV day one, net of interest, plus 100% of the cost of the conversion costs, at 60% LTGDV
Rate: 0.4% per month + BBR
Solution: Octane’s loan helped our borrowers acquire a 2-bedroom garden flat in North London and complete an extensive refurbishment. Our borrower will be extending the property to the side and the rear to create space for an extra bedroom.
LTV: 57% LTV day one, net of interest, plus 100% of the cost of the remaining build costs, at 66% LTGDV
Rate: 0.47% per month + BBR
Solution: Octane’s loan helped our borrower refinance a part-complete property in South West London. Our borrower was mid-conversion of the property into two 6-bedroom HMOs, but needed extra funds to finish the project. Octane’s loan refinanced the existing lender and provided 100% of the remaining build costs.
LTV: 60% LTV
Rate: 0.42% per month + BBR
Solution: Octane’s loan helps our borrower refinance the remaining 5 houses in a development in Angmering, giving them more time to market and sell them without pressure from their development lender.
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0345 222 9009