Redemptions milestone amid pandemic my proudest moment yet
Posted on Jan 15, 2021 | in Blog
Over the years the team here at Octane has achieved many great milestones but the latest is probably the one I’m most proud of.
This week we passed £500m of redemptions, which is a massive achievement given the unprecedented challenges created by the pandemic, not to mention the ongoing pressures of Brexit.
Everyone in this industry knows that it’s easy to lend, and that getting money back is the hard bit. But it’s even harder when the world as we all know it has been turned upside down.
Thankfully, the depth of knowledge and experience in the credit team we have in place right now has turned Octane into a well-oiled redemptions machine.
Our relationships with borrowers are so strong and commercially robust that they can withstand anything the market throws at them.
Strong redemptions are important because they don’t just boost your overall financial strength as a lender but make you even more attractive to investors.
During the many, many years that I have worked with Jon and Mark, we have always prided ourselves on our financial strength; and right now, as a lender, we are about as strong as we have ever been due to both our redemptions and the sheer depth of our funding lines and partners.
It’s a good job our funding lines are so deep because right now demand for our zero stress-tested buy to let product has gone through the roof. And that’s an understatement.
With the high street getting increasingly conservative with its gearing, landlords are looking for an alternative and the flexibility of our product is proving a real hit with brokers in every corner of the UK.
In the weeks ahead, we’ll be widening the distribution of our buy-to-let product even more. We can’t wait to help our loyal broker partners help their clients achieve their goals, which is what it’s all about.
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