Octane Capital cuts large loan rates
‘Product-less’ lender, Octane Capital, today announced it has reduced its risk rating given the improved outlook for the UK property market and broader political stability following the December General Election result.
As a result, and with immediate effect, the lender will be lowering rates on its larger bridging, developer exit and refurbishment loans by as much as 2% per annum.
Octane’s product-less #3rdGen approach to structuring and pricing deals will ensure that many of its larger loans will now become some of the most competitive in the market.
Mark Posniak, pictured, Managing Director, Octane Capital, commented:
“Like other lenders, we regularly review the macro-economic outlook and felt especially compelled to do so in the New Year following the decisive General Election result. Our in-house view is that a new environment of greater political certainty will see a lot of pent-up demand for property come through, with subsequent upward pressure on prices. We also believe that the Bank of England will counter any continued economic weakness with monetary easing, providing a further boost to the property market through lower borrowing rates.”