Octopus Property has announced that it is currently not accepting new buy-to-let applications after being ‘inundated’ with demand for its products.
A note on the specialist 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 spokesperson commented: “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.”
It is not clear at this stage when Octopus Property’s BTL products will become available again in the New Year.