Octane Capital

Octane Capital completes its first bridging loan

Newly launched bridging lender Octane Capital has completed its first-ever bridging loan in which it assisted a foreign national to purchase a new-build flat in south-west London.

The £500,000 deal was introduced by Simon Ryder of financial advisory firm and brokerage First Financial and was completed last Friday.

The announcement comes in less than two weeks since Octane introduced a new, productless offering to the market, choosing to price deals according to risk rather than by LTV.

"It’s fantastic to be out of the blocks with First Financial, who immediately understood the pricing model we’ve introduced,” said Mark Posniak, managing director of Octane Capital.

“It’s also great to have formal proof of concept for what we believe is the future of specialist lending.

“Since launching, our ‘productless’ model has attracted more interest from brokers than we could ever have hoped for.

“Best of all, we have plenty of other loans in the pipeline and are enjoying every minute of it.”

With years of experience in the specialist finance market, Octane Capital’s founders have lent over £2.2bn across 4,000 loans.

The ‘third generation’ lender will focus on complex, non-standard and larger loans that brokers may struggle to place with other lenders.

“For anything slightly non-standard or complex, I have no doubt Octane will become the go-to lender for brokers,” added Simon.

“Its team has a vast amount of experience and love the loans that other lenders shy away from.

“Rather than obsess over LTV, they’re able to rapidly drill down into the detail of a loan and price and structure it accordingly.

“Oh, and it goes without saying that we’re thrilled to have introduced the first loan for this revolutionary new lending model.”

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