The borrower needed to refinance the existing debt on the house and raise extra capital to go towards new property purchases.

He was let down right at the last by two specialist lenders when they could not agree on first/second charge intercreditor terms, which left him under pressure to repay his existing lender.

Octane stepped in to clear the existing debt and provide the capital raise needed, with no requirement for a second charge, completing the loan within just four weeks.

The loan was priced at 0.78% per month BBR linked.

The loan was originated by BDM, Lee Warne, and introduced by broker, Jimmy Baillie from Silver Oak Capital.

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The case was underwritten by Rick Hollingsworth, head of short-term credit at Octane, who was assisted by solicitor Harry Peel of Marriott Harrison.

Commenting on the deal, Lee Warne said: "This deal perfectly embodies what Octane stands for. Jimmy and the team at Silver Oak Capital came to us with a challenge after their client’s original plan to secure a second charge fell through at the last minute, through no fault of his own.

“Our task was to ensure we delivered on our promise, and thanks to a tremendous team effort, that's exactly what we did.”

 Jimmy Baillie added: “We have been arranging bridging loans for many years, and can confidently say this application and underwriting process with the Octane team has been the smoothest we’ve experienced to date."