Product-less lender, Octane Capital, has passed the £0.5bn lending milestone, just over two years since launching in May 2017.
The £500m of completions was primarily made up of loans to professional landlords, property investors and developers.
The third generation lender has established itself as a key player in the bridging finance and buy-to-let space, receiving thousands of enquiries from intermediaries since launch, totalling over £5bn.
These enquiries translated into formal applications amounting to more than £1bn.
During its two-year life, Octane has established more than 600 broker partnerships and has grown its team from three founding employees to 22 members of staff.
Jordan McBriar, managing director, Adapt Finance, commented:
“Octane have revolutionised the specialist property finance market and even surpassed the high expectations they set themselves in their previous guises. The way they approach a deal is incomparable in the market. We’re delighted to be an established broker partner of Octane’s and look forward to seeing the inevitable innovation they bring to the market in the next couple of years.”
Jonathan Samuels, chief executive, Octane Capital, added
“We launched Octane with a vision of shaking up the specialist finance sector and hopefully, with our product-less approach to lending, we have managed to achieve that. We would clearly like to extend special thanks to our valued broker partners, who have played a pivotal role in the growth of our business.”
Nimesh Sanghrajka, managing director, Mantra Capital, commented:
“Octane Capital are a fantastic company who always stick to their promises when it comes to delivering finance. Working with a bridging lender that has this level of flexibility and transparency is a breath of fresh air. Jonathan, Mark, Matt and the team are extremely experienced, and we look forward to completing more deals with them in the future.”
Mark Posniak, managing director, Octane Capital, added:
“We’re still a young company but over the past two years the maturity and experience of the team we have has shone through time and again. Clearly we wouldn’t be where we are without the support of the broker community and we look forward to continuing to serve it. The third generation of lending is already two years old but we’re confident its best days lie ahead.”