Octopus Property ‘taking a break’ from buy-to-let

Octopus Property ‘taking a break’ from buy-to-let

Octopus Property has stopped receiving new buy-to-let applications until sometime in the New Year.

A note on the lender’s website reads: “Our buy-to-let products are taking a break, but don't worry, they'll be back in the New Year.”

An Octopus spokeswoman said: “Following a very successful relaunch of our residential and commercial term loan products this Autumn, we’ve been inundated with deal flow to the point that we have filled our allocated budget for term funding well ahead of schedule.

“As a result of this demand, we have chosen to take a pause on accepting new applications for these products until the New Year whilst we manage the current pipeline of business. It’s still business as usual for our other products.”

The spokeswoman wouldn’t comment when the products will become available again in the New Year.

Octopus Property lends across residential, commercial, development, bridging, bridge-to let, refurbishment and buy-to-let.