Octane Capital ‘committed’ to brokers and completes on four loans in 24 hours
‘Product-less’ lender, Octane Capital, today announced that it will continue to support its broker partners as normally as possible as the UK escalates its measures to contain Covid-19.
The lender confirmed that its entire workforce is fully operational from home and all systems have been tested and are functioning well.
In a highly fluid situation, Octane, like other lenders, will continue to review risk on an ongoing basis but says it has completed on four loans in the past 24 hours alone:
- £230k development exit facility on two properties in the South East
- £390k bridging loan to help a borrower purchase another property in London
- £660k buy-to-let loan to a foreign national purchasing a flat in Battersea
- £700k refurbishment loan comprising a £450k land loan and £250k toward works
Jonathan Samuels, CEO, Octane Capital, commented:
“These are extraordinary times but we wanted to make it clear to the broker community that we are fully committed and will continue to lend as close to normally as possible. The specialist lending sector is both agile and robust and will survive the challenge ahead just as it did the Global Financial Crisis.”
Mark Posniak, managing director, Octane Capital, added:
“All our staff have been working remotely since early last week and, in the weeks and months ahead, subject to the health of our team, there will no impact at the operational level on either existing or future applications. As the four loans completed in the past 24 hours hopefully show, we remain hungry to lend and will do our utmost to serve the broker community during these unprecedented times. If brokers have any questions, we’re encouraging them to speak to their normal point of contact.”
