Chat to a team member

Press Releases

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

Octane Capital Octane Capital
Posted on Nov 07, 2019 | in Press Releases

With clock ticking, ADD Capital Finance and Octane work together seamlessly to structure deal and overcome major legal obstacle

‘Product-less’ lender, Octane Capital, today announced it stepped in at the 11th hour to provide a £250,000 bridge to a client of Bournemouth-based ADD Capital Finance, to complete the building work on a newly acquired investment property in Essex.

The borrower had originally been trying to secure finance through another lender and broker but communication lines between the two were poor and the lender was clearly doing its best not to pay out on the deal.

Aware of the borrower’s problems, his accountant recommended he speak to ADD Capital Finance, who, aware of the tight deadline and need for a flexible, experienced lender, immediately contacted Octane Capital.

With the clock ticking and the loan at risk of being delayed due to the Local Authority proving slow returning the searches, Octane responded by taking out indemnity insurance and the £250,000 loan was provided with time to spare.

Daniel Hornblow, Director, ADD Capital Finance, commented:

“Our client had lost all faith in specialist lending but with Octane’s help and the #3rdgen experience we managed to restore it. The level of urgency, depth of communication and ability of Octane to think on their feet and overcome hurdles was second to none. Our new client has been so impressed with the experience that he has already given us a second deal to write. This wasn’t the biggest deal but it was bridging at its absolute best.”

Mark Posniak, Managing Director, Octane Capital, added:

“It takes two to tango. Daniel and his team were on top of the deal from Day One and got us everything we needed ahead of time. When you’re working with a broker as responsive and sharp as ADD Capital Finance, even the tightest of deadlines can be overcome. We were determined to fight like hell to make this deal happen on time and so were happy to take indemnity insurance over the lack of searches. Our philosophy is simple: there’s always a way.”

More in this section

Bridging Watch: Repeat after me – contingency

Nov 19, 2021 | Press Releases

An increasingly unpredictable world is forcing borrowers to seek…

Mark Posniak
Mark
READ MORE
Mark Posniak

Octane Capital Buy to Let products added to Iress platform

Oct 21, 2021 | Press Releases

Third generation bridging and buy to let lender, Octane Capital,…

Octane Capital
Octane Capital
READ MORE

MBT Affordability integrates with Octane Capital

Oct 10, 2021 | Press Releases

Mortgage Broker Tools (MBT) has added Octane Capital to the Buy…

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

14 hours, 55 minutes ago
Looking forward to announcing the first teams to have qualified in the coming days with the first announcement tomo… https://t.co/JL2ZXtLTw6

2 days, 17 hours ago
Ok so today is officially called Blue Monday which is supposedly the most miserable day of the year! To brighten u… https://t.co/j4gImIOnXK

1 week, 1 day ago
BTL completion within auction timescales! Octane Capital Ltd is delighted to complete a #3rdGen £378,000 #BTL loan… https://t.co/whoRUlnRuL

1 week, 2 days ago
If you are looking for a great way to start 2022, look no further! Why not add the Octane Capital Ltd #3rdGen… https://t.co/nlhejCYIZE

1 week, 6 days ago
Absolutely thrilled to announce that Octane Capital Ltd has been shortlisted in four categories for this years' Bus… https://t.co/XQbYTIEhFT

2 weeks ago
Back in the Octane Capital Ltd office today and was delighted to present Graham Butcher with his #3YearsService awa… https://t.co/pJUaaJClkg