Specialist property lender Octopus Property, which is part of the Octopus Group, has launched an unregulated bridging product to replace five existing products.
It covers bridging loans between £100,000 and £500,000, at a maximum 70% loan to value (LTV), at a rate of 0.6% per month. It’s available to both new and existing customers.
D’mitri Zaprzala, head of sales at Octopus Property (pictured), said: “As market dynamics continue to evolve, we have been working closely with our brokers and borrowers to adapt our products to better meet their changing needs.
“This is a limited time offer, as we have a £30m tranche of funding. We expect a strong demand due to the simple nature of the product, and the fact it is one of the most flexible and competitive products in the market. We look forward to supporting brokers and borrowers with this offering.”
