Chat to a team member

Press Releases

Octane Capital refinances complex buy-to-let portfolio in East London and Essex

Octane Capital Octane Capital
Posted on Aug 15, 2017 | in Press Releases

‘Product-less’ lender, Octane Capital, today announced the completion of a £1.1m refinance of a complex buy-to-let portfolio comprising four properties in East London and Essex.

The experienced Octane Capital risk team managed to overcome a number of issues, primarily arising from the borrower’s poor credit score and inability to evidence all rental income.

Two of the properties secured on were ex-Local Authority and the borrower was required to provide a Personal Guarantee because a Debenture was not achievable — creating an extra layer of complexity.

The borrower’s intention is to remortgage with a high street lender in two years’ time once their credit profile and the tenancies have improved.

In order to save the client time and money, Octane also used a retype of valuations that had been carried out for another lender. The loan was provided at 65% LTV.

Mark Posniak, Managing Director, Octane Capital, commented:

“This was a classic example of how a specialist lender that is prepared to dig deep and get to the bottom of a person’s circumstances can take a view and provide finance. Yes, this borrower had some issues but we were comfortable with the underlying assets and their ultimate goal to get their finances in shape and refinance away to a term lender in a couple of year’s time. Loans that other lenders would give a wide berth to are generally our bread and butter.”

More in this section

Mark Posniak

Octane Capital Buy to Let products added to Iress platform

Oct 21, 2021 | Press Releases

Third generation bridging and buy to let lender, Octane Capital,…

Octane Capital
Octane Capital
READ MORE

MBT Affordability integrates with Octane Capital

Oct 10, 2021 | Press Releases

Mortgage Broker Tools (MBT) has added Octane Capital to the Buy…

Octane Capital
Octane Capital
READ MORE

Benjamin Donelien joins Octane Capital

Sep 13, 2021 | Press Releases

Third generation bridging and buy to let lender, Octane Capital,…

Octane Capital
Octane Capital
READ MORE
Sections
Archive
Twitter
Follow us @octanecapital

2 hours, 3 minutes ago
Delighted to have had the Octane Capital Ltd #BuyToLet #Products added to Iress The take up of our specialist… https://t.co/AutOOrgHdX

6 hours, 23 minutes ago
Special shout out to the official Bar Sponsor at next years #OctaneCapitalCup being held at Wembley (Goals) next Ma… https://t.co/ftsihUvsLE

6 hours, 48 minutes ago
Wow-what a lovely thing to read as I opened Linkedin today! Thanks so much Kim McGinley CeMAP & team VIBE Speciali… https://t.co/necK2A88T1

6 hours, 52 minutes ago
Love this - cant wait for next May Octane Capital Ltd #OctaneCapitalCup https://t.co/yYonb9UxFR

1 day, 1 hour ago
Amazing effort by Jamie Oxley here in ensuring that we hit a very tight deadline and saved a client his £30k deposi… https://t.co/Jn8FeXE7WB

1 day, 3 hours ago
Great to catch up with Business Moneyfacts Magazine today and showing them round the Octane Capital Ltd #3rdGen Off… https://t.co/jIu9KfOrBA