Octopus Property lends £80m in November
By Tom BelgerOctopus Property has originated £80m of new lending during November, a record for the lender
Section: mobile apps categories
The specialist lender provided its largest-ever development facility and record bridging loan last month.
Octopus Property’s November highlights included:
- a £31.3m short-term loan to fund the purchase of a west London office development
- a record development deal of more than £20m for a Brighton residential scheme
- first loans originated with the new commercial term product and latest buy-to-let product
- loans completed across residential, commercial and development product sets.
Mario Berti, CEO of Octopus Property (pictured above), said 2017 had been a year of records for the lender, which he felt was a strong endorsement for its strategy to become the leading provider of specialist property finance in the UK.
“Underpinning all of this is the continued growth and excellence of our first-class team to over 60 people, and further diversification of our product portfolio.
“This record month demonstrates the increasing demand for our unique lifecycle lending proposition, as borrowers seek efficient and bespoke financing solutions from lenders that really understand the complexities of property development and investment.
“It is also further proof that the market for alternative lenders is going from strength to strength, driven by supportive macro conditions and increasing retrenchment by more traditional lenders.”
Keywords: Octopus Property, Octopus lending, Mario Berti, property finance, bridging finance, specialist finance, Octopus products, bridging loan, development finance, development finance broker, bridging finance broker, Octopus Property broker