Octane Capital

Octane Capital passes £100m of completions

Octane Capital has announced that it passed the £100m of completions milestone late last year and that its loan book was nearing a quarter of a billion pounds in value.

The lender has also announced that it is now accepting applications for ‘vanilla’ deals, following broker demand for such loans.

Octane Capital – which launched in May last year – has since increased its head count from three to 14 with further senior hires expected in the months ahead.

Jonathan Samuels, CEO at Octane Capital (pictured above), said: “Productless lending comes into its own with complex loans, as it provides a blank canvas on which to structure them, but in recent months a number of brokers have asked if we could help them with more vanilla deals.

“We were naturally happy to and – when putting the loans together – found the process to be effortless as we weren’t constrained by the parameters of product-based lending.”

Mark Posniak, managing director at Octane Capital, added: "The productless lending model was untried and untested, but the broker community has embraced it and 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.

“We’re now hugely excited to be offering this new lending model to the market as a whole.”

Octane Capital has so far primarily focused on non-standard and complex lending with prices determined by risk rather than LTV.

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