Short- and medium-term lender Octopus Property has reduced rates across all major LTV banding on its bridging loan range as part of plans to roll-out a comprehensive product update through 2017.
New rates include 0.6 per cent per month on LTVs up to 50 per cent and 0.65 per cent on LTVs between 50.1 and 55 per cent.
The lender plans to make improvements across its entire lending suite, including buy-to-let, commercial, refurb and development.
Octopus Property chief executive Mario Berti (pictured) says: “The overhaul of our product range that we will be announcing in 2017, starting with our bridging loans, is the most significant since we started trading back in 2009. The sector has evolved considerably over the past eight years and we felt it was time to evolve our own proposition fundamentally.