Octane Capital cuts loan application times in half
It will only take five minutes for borrowers who apply through the new mobile app to navigate the electronic identity verification, KYC submission, and electronic authority layout to complete the necessary credit checks, the lender said.
Additionally, Octane, which describes itself as a “lender without a product,” also condensed the application process for its currently early-launched rental loans to just two pages.
This meant, Octane said, that brokers can do this effortlessly on behalf of their client, dramatically reducing time to completion.
Jonathan Samuels, CEO of Octane Capital, said: “The feedback we’ve received on our new application process has been phenomenal and based on that we’ve incorporated it into every loan we write.
“In the current climate, real estate investors are proving to be more active than ever, particularly homeowners due to the current stamp duty holidays, so radically streamlining our application process could not have been more timely.”
Mark Posniak, Managing Director of Octane Capital, added, “Our industry is changing at a breakneck pace and we are investing heavily in technology and automation to ensure that our brokers and their clients are always at the forefront.
“Since the lockdown has been relaxed we’ve seen unprecedented demand from brokers and our new application process, which cuts turnaround time, is what everyone wants to see. “