Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Octane Capital Updates Lending Range After Aldermore Acquisition

Octane Capital has refreshed its specialist lending range following its recent acquisition by Aldermore Bank. The changes are designed to provide more certainty, flexibility, and speed for brokers and borrowers.

The updated proposition includes the introduction of fixed rates at no additional cost, lending against open market value (OMV), free automated valuation models (AVMs), remote valuations, and reduced developer exit rates. Octane Capital stated that these enhancements were made in response to broker feedback.

The lender will now offer fixed rates without a premium compared to variable rate products, aiming to meet demand for payment certainty. Lending against OMV will replace the previous 180-day valuation methodology on qualifying cases, which Octane Capital says will give brokers more flexibility and allow cases to proceed where valuation constraints may have previously limited borrowing.

To improve speed and affordability, Octane Capital will facilitate free AVMs and remote valuations on qualifying purchase transactions up to 75% loan to value (LTV). The company also announced reduced developer exit rates as part of the refreshed offering.

These updates are intended to strengthen Octane Capital’s proposition for brokers and borrowers, following its acquisition by Aldermore Bank.