Talk to us about progressing your project
We love working with active property investors. Whether you’re looking to add value to a property or increase its income potential, we can help with each stage of the journey.
Rates from 0.35% per month + BBR
70% LTV day one, net of interest
100% of refurbishment costs funded
Projects overseen by an Asset Manager, not a QS
No exit fees
Loan sizes
From £150,000 day one to £15,000,000 (and beyond)
Asset types
All types of residential and semi- commercial property, and commercial property which is being converted to residential
Max LTV
70% LTV NET day one + 100% of the cost of the works
Rates
From 0.35% per month + BBR*
*Our rates track the Bank of England Base Rate
Terms
Up to 24 months
Scope of works
Build costs not to exceed £500,000 or 75% of current value (heavier refurbishments acceptable at lower LTGDVs)
Monitoring
Light-touch monitoring by an Asset Manager (not a QS)
Borrowers
UK borrowers with clean credit. Experience preferable, but not always necessary
For low LTV cases, we can consider deals outside of usual appetite.
Poor condition or outdated properties and auction purchases.
Loft conversions and rear/side extensions. Both permitted development and planning permission acceptable.
House to HMO, house to flats and commercial to residential conversions.
LTV: 57% LTV day one, net of interest, plus 100% of the cost of the remaining build costs, at 66% LTGDV
Rate: 0.47% per month + BBR
Solution: Octane’s loan helped our borrower refinance a part-complete property in South West London. Our borrower was mid-conversion of the property into two 6-bedroom HMOs, but needed extra funds to finish the project. Octane’s loan refinanced the existing lender and provided 100% of the remaining build costs.
LTV: 68% LTV day one, net of interest, plus 100% of the cost of the conversion costs, at 60% LTGDV
Rate: 0.4% per month + BBR
Solution: Octane’s loan helped our borrowers acquire a 2-bedroom garden flat in North London and complete an extensive refurbishment. Our borrower will be extending the property to the side and the rear to create space for an extra bedroom.
LTV: 70% LTV day one, net of interest, plus 100% of the cost of the conversion costs, at 65% LTGDV
Rate: 0.42% per month + BBR
Solution: Octane’s loan helped our borrowers acquire this 3-bedroom house in North London with a purchase bridge. They successfully worked up planning permission to complete a side extension and a loft conversion to make space for 2 further bedrooms. Octane’s refurbishment loan provides 100% of the funds needed to complete the project, with fees only charged on new monies borrowed.
LTV: 41% LTV day one, net of interest, plus 100% of the cost of the conversion costs, at 65% LTGDV
Rate: 0.47% per month + BBR
Solution: Octane’s loan helped our borrowers acquire a 3-bedroom house in Portsmouth. Their plan was to convert the property into a 7-bedroom HMO but it did not have planning permission at the time we lent. We permitted the borrower to apply for planning permission for the 7-bedroom scheme during the term of our loan, with the fall-back option being a 6-bedroom permitted development scheme if planning were to be declined.
LTV: 70% LTV towards the purchase, net of interest, plus 100% of the conversion costs, at 58% LTGDV.
Rate: 0.41% per month + BBR
Solution: Octane’s loan helped our acquire a three-bedroom house in Bristol and will fund its conversion into a 5-bedroom HMO under permitted development.
LTV: 70% LTV towards the purchase, net of interest, plus 100% of the refurbishment costs, at 70% LTGDV.
Rate: 0.42% per month + BBR.
Solution: Octane’s loan helped our borrower acquire a 3-bedroom house in Altrincham and funded 100% of the costs of refurbishment, which included a single storey rear extension and an internal renovation throughout.
Talk to us about progressing your project
0345 222 9009