Octane Capital moves into mainstream lending

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Bridging lender Octane Capital has passed its first £100m of completions, after launching last year.

The specialist lender says its plans to take its “product-less” model mainstream, by offering finance on more vanilla deals.

Octane has expanded rapidly since launching in May 2017. From a team of three it now has 14 employees, and says further senior hires will be announced in the months ahead.

The lender confirmed that its loan book was almost a quarter of a billion pounds.

Rather than offering different LTV products, Octane Capital prices according to risk, meaning loans are individually underwritten. To date it has focused more on more complex finance requirements, but is now starting to offer this model on more mainstream loans.

Octane Capital’s chief executive Jonathan Samuels says: “Product-less lending comes into its own with complex loans, as it provides a blank canvas on which to structure these deals. But in recent months a number of brokers have asked if we could help them with more vanilla deals.

“When putting the loans together we found the process to be effortless as we weren’t constrained by the parameters of product-based lending. On the back of these trial cases we have decided to take third-generation lending into bridging’s mainstream.”

Octane Capital’s managing director Mark Posniak said the broker community has “embraced” the product-less lending model. “Demand has been growing by the day. Brokers love the fact that they’re not having to shoehorn a client into a fixed loan category, but can instead work with a lender from the bottom up.”

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