The specialist lender reported a 71% increase on 2016’s average monthly completions in March, with its loan book soaring at its fastest rate since 2012 after undertaking a raft of product enhancements as part of its major overhaul to its entire lending suite this year.

This recent success follows Mario Berti (pictured above) moving from head of Octopus Property to CEO in November 2016.

D’mitri Zaprzala, head of sales at Octopus Property, said: “Off the back of the changes that we’ve made to the Octopus Property team and our biggest product overhaul since launching in 2009, we’re delighted to see these new records being set.

“Market demand for well-targeted, well-priced and well-delivered lending remains undiminished and our team couldn’t be in better shape to meet these demands.

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“We couldn’t set new records without the support of our brokers, so we’ll remain focused on delivering award-winning products and service to meet their needs as we continue to grow.”

Octopus agreed more than 300 new loans and received over 130 new loan applications during March.

Among the completions was a £9m residential bridge provided to exit a recently completed London development scheme and a £6m day-one lend on a new residential development in Chalk Farm.

Octopus also provided a £4.5m commercial bridge on a recently branded hotel in Buckinghamshire.

These loans have come amid a comprehensive product update, which has seen the company launch two new residential refurbishment products and eight new residential bridging products.

Mario added: “To set records like this is an absolutely fantastic endorsement of the changes that we’ve made to our team and our products.

“Our new bridging and refurbishment products have been exceptionally well received by brokers and borrowers alike and we’ll soon be launching new products for the development, buy-to-let and commercial markets.”