#3rdgen lending is here to stay
Posted on Aug 14, 2017 | in Blog
We're now three months into the Octane Capital adventure and I’m pleased to say that the early days have been a huge vindication of our #3rdgen lending model.
Not only does it work, and work well, but we're thrilled that brokers immediately saw the value in this new 'product-less' and highly flexible approach to lending.
Since the beginning of May when we officially launched, we've already completed deals with more than 20 different brokers — and I’d personally like to say a big thank you to each and every one of them.
The icing on the cake (in fact, the cherry on the top of the icing on the cake), is that we've lent on almost every kind of deal we set out to: from straightforward residential, refurbishment and semi-commercial bridging, to complex, portfolio and semi-commercial buy-to-let.
And it doesn't stop there. Other loans arranged over the past quarter have involved land with planning permission, vacant commercial, an industrial estate and multiple foreign national bridges and buy-to-lets.
These are the kinds of loans other lenders tend to give a wide berth to, but at Octane Capital they're our bread and butter.
Having also lent to two Iranians, an Israeli, an Egyptian, Malay and multiple Chinese nationals, we feel we can say with all confidence that complex borrowers, anyone slightly out of the box, we've got you covered!
And we're not only helping brokers serve their clients, but are really enjoying ourselves, too. We're quickly building an incredible team of talented, hungry and customer-obsessed people with a common goal of competing deal after deal after deal — and having a lot of fun along the way.
The atmosphere in the office is great and there's none of the corporate claptrap and obsession with hierarchy that you'll find at some lenders. Everyone here is experienced at what they do, and love what they do to bits, so they just get on with it.
And that’s an understatement if ever there was one: the expected summer lull never materialised and our pipeline is growing at a rate of knots. It's been a frankly fantastic start and we hope for more of the same as we enter the Autumn months.
All in all, we're about as far removed from a bank and all the red tape that goes with it as you ever could be. The shackles of traditional property finance are well and truly off. #3rdgen lending is here to stay.
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