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

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

1 week, 3 days ago
The Octane Capital Ltd #3rdGen sales team have had a great day at the NACFB show in Birmingham today meeting new an… https://t.co/jdjyjtWh1o

1 week, 4 days ago
Delighted to be shortlisted for 3 awards at the Bridging & Commercial awards. #BestBridgingLender… https://t.co/eOblVsS6ew

1 week, 4 days ago
To all my contacts who like cricket - looks like a great event! https://t.co/elnjUQRSND

1 week, 4 days ago
The Octane Capital Ltd #3rdGen sales team will be at the NACFB #Expo in Birmingham tomorrow. Please do pop by and… https://t.co/MZipMiQ7Hm

3 weeks, 5 days ago
Always delighted when Octane Capital Ltd receives a 5* Trustpilot review. Thank you TonyB for your kind words!… https://t.co/Rimwcb0Jsg

1 month ago
Octane Capital Ltd #3rdGen Mortgage Strategy https://t.co/FVArs3g8O2