Octane breaks record in Q2

Octane Capital has lent £117m during Q2, the first time it has completed over £100m of deals in an individual quarter.

Between April and June, the lender received 325 applications and completed on 166 loans.

The business also saw a 15% rise in the number of foreign nationals investing in UK property compared to Q1 — the sharpest quarterly increase since its launch — with more buying outside of the capital.

Mark Posniak, managing director at Octane Capital (pictured above), said: “Not only did we pass £1bn of completions in June, the second three months of the year proved to be our biggest quarter since we launched in 2017

“Activity levels were simply off the scale; the stamp duty holiday was clearly one driver, but we’re also seeing a lot of demand from foreign nationals, mostly outside the EU, who are increasingly viewing the UK property market as a safe haven. 

“With ‘Freedom Day’ behind us, we’re expecting the second half of the year to be as frantic as the first.”

In Q1, the finance provider lent £92m and, in June, completed its largest ever loan — a £17.35m five-year BTL facility, which involved the refinance of 40 properties across London, comprising more than 160 units. 

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