Chat to a team member

Press Releases

Octane Capital completes complex £5.4m HMO refinance in 7 days

Octane Capital Octane Capital
Posted on May 23, 2017 | in Press Releases

‘Productless’ third generation lender, Octane Capital, today announced it has completed a £5.4m bridging loan to an offshore borrower in just seven working days.

The loan, at 70% LTV, was for a complex HMO (house in multiple occupation) refinance in north London to help the client – borrowing through an offshore ownership structure – raise capital for a further purchase.

The borrower, introduced through property finance advisory business, Buchler Barnett Spencer, opted to service the loan and use part of the equity released to fund the difference between the net rental income and interest.

In early May, Octane Capital launched with a ‘third generation’ lending model: it now prices according to risk rather than LTV and structures loans on a highly bespoke basis.

It has also moved away from transactional lending to a partnership-based approach.

Westley Richards, Director, Buchler Barnett Spencer, commented:

“Our decision to finance this project with Octane was validated by the smooth and efficient credit and drawdown process that enabled our client to complete this refinance within a tight timeframe and on very competitive terms.”

Jonathan Samuels, CEO, Octane Capital, added:

“This is the exact type of loan that we had in mind when we launched Octane Capital. We love to be challenged and to find a solution for even the most complex borrowing structures and circumstances, and this one, introduced by our newest recruit, Justin Cooper, ticked both those boxes — and then some. We’ll do simpler loans, of course, but if a loan sounds impossible, that’s when we like to get involved.”

 

More in this section

Octane Capital and ADD Capital Finance save the day for Essex property investor with £250k bridge

Nov 07, 2019 | Press Releases

With clock ticking, ADD Capital Finance and Octane work together…

Octane Capital
Octane Capital
READ MORE

Octane Capital hits £250m of redemptions and posts record Q3

Oct 11, 2019 | Press Releases

• Despite the 31 October Brexit deadline, Q3 2019 the biggest…

Octane Capital
Octane Capital
READ MORE

Octane Capital joins MCI Mortgage Club panel

Sep 02, 2019 | Press Releases

• #3rdGen lender to offer its ‘product-less’ loans to 750 MCI…

Octane Capital
Octane Capital
READ MORE
Sections
Archive
Twitter
Follow us @octanecapital

8 months, 4 weeks ago
@AskAmexUK I love my Amex and want to use it even more with @ImagineCurve! Please bring it back @AmexUK @TheFCA… https://t.co/7D0sTD0BD9

9 months ago
RT @mposniak: First 2 pages of the Bridging Introducer feature on @OctaneCapital below where we talk about our plans for 2019 and… https://t.co/CzvQeUBd2R

9 months ago
RT @mposniak: Second 2 pages of the Bridging Introducer feature on @OctaneCapital below where we talk about our plans for 2019 an… https://t.co/OtyvK6Ws4z

9 months ago
RT @mposniak: Lets not forget about what makes @OctaneCapital's #3rdGen engine room tick. Nice little piece in Bridging Introduce… https://t.co/7TzaDzUUbX

9 months ago
RT @mposniak: Delighted to confirm that the 2nd Annual @OctaneCapital #3rdGen #OctaneCapitalCup2019 will be contested on Wednesda… https://t.co/41FYEKOOJd

9 months ago
RT @Beth_JFisher: Every other month, @BandCNews magazine will feature one key industry figure sounding out another. For the first iss… https://t.co/ShVUKUm9ub