It will take borrowers applying through the new mobile app just five minutes to navigate through the electronic ID verification, KYC submission and the electronic authority provision to complete the necessary credit checks, the lender said.

What’s more Octane, which describes itself as ‘product-less lender’, also condensed the application process for its currently soft-launched buy-to-let loans to just two pages.

This meant, said Octane, brokers can complete this effortlessly on their client’s behalf — significantly reducing time to completion.

Jonathan Samuels, CEO, Octane Capital, said: “The feedback we’ve received on our new application process has been phenomenal and on the back of that we’ve embedded it in every loan we write.

“In the current climate, property investors are proving more active than ever, especially landlords due to the current stamp duty holiday, so radically streamlining our application process couldn’t have been more timely.”

Mark Posniak, managing director, Octane Capital, added: “Our sector is evolving at a rate of knots and we are investing heavily in technology and automation to ensure our brokers and their clients are always on the front foot.

“Since the lockdown has been eased, we’ve seen unprecedented demand from brokers and our new application process, which collapses the time to completion, is what everyone wants to see.”