Advisers will also benefit from reduced arrangement fee of 1.75 per cent, down from 2.5 per cent. The procuration fee will also be 0.8 per cent.
Octane Capital lends to first-time landlords, ex-pats, applicants with adverse credit and foreign nationals.
Rates for products begin from 4.99 per cent per annum, and have maximum loan to value (LTV) limits between 65 per cent and 75 per cent depending on the product.
The lender will provide finance on properties with a value between £200,000 and £5m, including complex properties such as homes in multiple occupancy (HMO) and multi-unit blocks (MUBs).
Danny Belton, head of lender relationships of L&G Mortgage Club: “Through a common-sense approach to lending, Octane Capital has helped many to start and grow their buy-to-let 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.”
Mark Posniak, managing director of Octane Capital, said: “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 Prudential Regulation Authority (PRA) stress tests an obstacle to their property investment ambitions.
“By removing the need to stress test and instead requiring 100 per cent rental cover, we are opening the door to yet more aspiring buy-to-let landlords in a creative but responsible way. We look forward to continuing to work closely with L&G Mortgage Club and its advisers.”