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

Two thirds of rental homes not energy efficient

Mar 23, 2022 | Press Releases

With energy bills due to increase by 54% in April, research from…

Octane Capital
Octane Capital
READ MORE

UK home to fourth largest rental market trailing US, Germany and Japan

Mar 02, 2022 | Press Releases

Research by specialist property lending expert, Octane Capital,…

Octane Capital
Octane Capital
READ MORE

Housing equity hotspots - Nation’s most valuable property market revealed

Feb 14, 2022 | Press Releases

Research from specialist property lending experts, Octane Capital,…

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

8 hours, 19 minutes ago
Jonathan Samuels quoted in CityAm earlier with commenting on Octane Capital Ltd research suggesting mortgage repa… https://t.co/ufCTOCgc8m

12 hours, 42 minutes ago
#DeveloperExit opportunities... For developers approaching the completion of a new-build scheme, a #DeveloperExit… https://t.co/5jUyFKicNL

1 day, 10 hours ago
You bump into some interesting people on the Jubilee…. POD Management @DavidBGoldberg https://t.co/lbiNB5hToJ

3 days, 8 hours ago
Last game of the season - whilst gutted to miss out on Champions League - delighted to have European Football again… https://t.co/Enj2ewVeRE

6 days, 9 hours ago
What an amazing day for it! Thank you Marc Eden and Regal Homes for your kind invite! Lively team too Damien Hughe… https://t.co/e8S5JGKvge

1 week, 5 days ago
one more shoutout from yesterdays Octane Capital Ltd #OctaneCapitalCup - huge thank you to Felicity Lass for your i… https://t.co/tiozQ7joYd