Octopus Real Estate, a subsidiary of Octopus Group, has launched its enhanced unregulated residential bridging product in an effort to review and improve its borrower and broker offerings.
The business now caters to a wider range of borrowers, spanning those seeking finance for more complex cases to best-quality clients with a strong U.K. credit profile. The enhanced product will improve Octopus’s competitiveness in the residential bridging market.
Features of the product include an increase in maximum loan value to 75 percent, loans between £100,000 ($126,000) and £500,000 ($635,000), and a 0.6 percent p.m, which stays consistent with lower LTVs.
Last month, Octopus Real Estate created 37 new loans across the suite of residential, commercial and development lending products. It also provided £101 million ($128 million) in financing, a record, according to the company.
Octopus Real Estate was launched last month, with the merger of leading real estat
