Octane Capital is offering Legal & General Mortgage Club members exclusive reduced rates across a selection of buy-to-let products.
Through Legal & General Mortgage Club, advisers now benefit from a reduced arrangement fee of 1.75% (down from 2.5%) and procuration fee of 0.8%. The range of products allow for foreign nationals, first-time landlords, expats and applicants with adverse credit.
Rates begin at 4.99% per annum and have maximum loan to value limits of between 75% and 65%, depending on the specific product.
Octane Capital will also lend on properties ranging in value, with a minimum property value of £200,000 rising to £5 million and the loans are suited to those seeking lending on a HMO or MUFB.
Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “Through a common-sense approach to lending, Octane Capital has helped many to start and grow their buy-to-let portfolios and we expect that our adviser community will greatly benefit from the exclusive rates we are offering in conjunction with the lender.
“Its ability to help a wide range of applicants, including those with credit impairments also make it a relevant and timely provider in the post-covid climate.“
Mark Posniak (pictured), managing director at Octane Capital, added: “We expect these competitive rates to suit a wide range of borrowers, however, a clear focus of our is in helping borrowers who have found PRA stress tests an obstacle to their property investment ambitions.
“By removing the need to stress test and instead requiring 100% rental cover, we are opening the door to yet more aspiring buy-to-let landlords in a creative but responsible way. We look forward to continuing to work closely with Legal & General Mortgage Club and its advisers.“
