Octane Capital has launched a new calculator that it believes will cut the application time for its buy-to-let product range.
The lender recently condensed the application process for its new buy-to-let range to two pages, and the calculator can identify the correct product for prospective borrowers “in as little as a minute”, Octane claimed.
At the end of the calculation, introducers can download the proposed product and loan structure, which includes key information such as nominal (pay) rate, monthly payment, max LTV and ERC structure.
Mark Posniak, managing director of Octane Capital, said: “We’ve invested heavily in tech during 2020 and our new buy-to-let calculator, spearheaded by Oli Greenspan, our head of marketing and internal sales, has further collapsed time to completion.
“It’s ultra-intuitive, quick to use and gives introducers a huge amount of downloadable information that they can subsequently refer to when completing their formal application.
“It ties in perfectly with our strategy of making the sales process frictionless and getting deals across the line faster than ever, often in half the time it traditionally takes.”