Octane Capital announced it has reduced its risk rating following an improved outlook for the UK property market and the broader political stability after the December General Election result.
The lender revealed that it will be lowering rates on its larger bridging, developer exit and refurbishment loans with immediate effect, by up to 2% per annum.
Octane Capital managing director, Mark Posniak, commented: “Like other lenders, we regularly review the macro-economic outlook and felt especially compelled to do so in the New Year following the decisive General Election result.
“Our in-house view is that a new environment of greater political certainty will see a lot of pent-up demand for property come through, with subsequent upward pressure on prices.
“We also believe that the Bank of England will counter any continued economic weakness with monetary easing, providing a further boost to the property market through lower borrowing rates.”
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