View more on these topics

Octane Capital launches to market with product-less proposition

New specialist lender Octane Capital has launched to market today with a product-less proposition.

The brainchild of Dragonfly founder Jonathan Samuels, who has launched the business with former colleagues Mark Posniak and Matt Smith, is coming to market with a blank product sheet and plans to offer bespoke loans.

In an interview with Mortgage Strategy in this week’s print issue, Samuels says: “We are calling this the third generation of bridging lending. We’re not going to have an LTV band at this or that rate. It’s totally bespoke. It could be 70 per cent LTV but we’ll price it lower than 60 per cent. We’ll structure the deal in the best way for the client, the broker and ourselves.”

Octane will focus on bridging and specialist BTL lending primarily at first, primarily through brokers and master brokers, with the firm’s unique selling point being that it is a lender without products.

In March, Mortgage Strategy revealed that Samuels would be returning to market this month with a new proposition.  He founded Dragonfly – since rebranded as Octopus Property – in 2009 and left in late 2015.

Samuels has taken on the role of chief executive at Octane and has reunited with former Dragonfly colleagues Mark Posniak and Matt Smith, who will assume the positions of managing director and director of risk respectively.

For more, read the profile interview with Octane in this week’s Mortgage Strategy.



Accord brings in 145% leasehold and remortgage tier

Accord Buy To Let has brought in a 145 per cent interest cover rate for leasehold house purchase and capital raising remortgages with terms lower than five years. Previously all Accord’s buy-to-let borrowing had ICRs of 135 per cent and stress rates of 5.5 per cent for terms of less than five years and 5 […]


House price growth lowest since 2013: Nationwide

Annual UK house price growth in April was 2.6 per cent in April, the lowest level for four years, according to Nationwide. Average house prices fell 0.4 per cent month-on-month, and the standard UK property is now worth £207,699. Nationwide chief economist Robert Gardner says: “House prices recorded their second consecutive monthly fall in April, […]


Stamp Duty liable properties fall in Q1 but revenue up

The number of residential property transactions liable to pay Stamp Duty fell by 5 per cent in Q1 this year on a non-seasonally adjusted basis, according to statistics from HMRC. However, the number of liable residential transactions was 1 per cent higher in the financial year 2016 – 2017 compared to the previous year. The […]


Neptune video: Abenomics: the impetus for Japan’s fast-track recovery?

The remarkable performance of the TOPIX over the past year has caused many sceptical equity investors to look again at the Japanese market. These returns have come despite very significant problems facing the Japanese economy. Chris Taylor, manager of the Neptune Japan Opportunities Fund, discusses these problems and whether Abenomics will be able to overcome them, enabling the market to continue to rise.

In the video, Taylor addresses the following:

• The size and speed of Japan’s unprecedented monetary policy
• Abenomics and the implications should it fail
• Corporate Japan and beneficiaries of government policy


News and expert analysis straight to your inbox

Sign up