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Octopus Property reduces rates on bridging product range

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.


Comment: Bridging loans can handle inflation

Property investment can still produce good returns as long as developers factor in rising inflation and refurbishment costs The annual rate of Consumer Prices Index inflation increased to 1.6 per cent in December – its highest level for two-and-a-half years. The resulting increase in costs of materials will make refurbishing a property, whether residential or […] acquires Only Bridging

Online broker has acquired a controlling stake in specialist brokerage Only Bridging. The North London based broker specialises in second charge, bridging, development and commercial finance and will become a regional office under the infrastructure. The online introducer, headed up by chief executive Paul McGerrigan, opened regional offices in Northern Ireland and Cardiff […]

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