Specialist property lender Octopus Property, part of the Octopus Group, today announces the launch of a new unregulated bridging product to replace all existing unregulated bridging products. It’s available to both new and existing customers.
The new product covers bridging loans between £100,000 – £500,000 at a maximum 70% loan to value, at a very competitive rate of 0.6% p.m. It is the latest innovative offering from Octopus Property as it continues to refine its range of products to make them simpler and more accessible to property professionals throughout London and the regions.
Key features of the new bridging product include:
- Loan size: £100,000-£500,000
- Term length: 12 months
- Interest rate: 0.6% per month
- No exit fees
D’mitri Zaprzala, pictured, Head of Sales at Octopus Property, commented:
“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.”