L&G and Octane Capital team up to offer reduced rates
Posted on Jul 08, 2021 | in Press Releases
Octane Capital is offering reduced rates for its buy-to-let products through Legal & General Mortgage Club.
Specifically, the product arrangement fee has been reduced from 2.50% to 1.75% and the procuration fee is now 0.80%.
The mortgages are available at up to 75% LTV and rates begin at 4.99%.
Applications for homes in multiple occupation and multi-unit freehold blocks are welcomed, the lender adds.
Legal & General Mortgage Club head of lender relationships Danny Belton says: “Through a common-sense approach to lending, Octane Capital has helped many to start and grow their BTL portfolios and we expect that our adviser community will greatly benefit from the exclusive rates we are offering in conjunction with the lender.
“Its ability to help a wide range of applicants, including those with credit impairments also make it a relevant and timely provider in the post-covid climate.
And Octane Capital managing director Mark Posniak comments: “We expect these competitive rates to suit a wide range of borrowers.
“However, a clear focus of our is in helping borrowers who have found PRA stress tests an obstacle to their property investment ambitions.
“By removing the need to stress test and instead requiring 100% rental cover, we are opening the door to yet more aspiring BTL landlords in a creative but responsible way.”
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