Octane completes over 1,000 loans since launch
Posted on Oct 21, 2020 | in Press Releases
Octane Capital has completed over 1,000 loans since launching in 2017, with the value of these to date nearing £1bn.
Almost half of the loans (493) it has completed — totalling £451m — have already redeemed.
Over the last three years, Octane has made 7,169 agreements in principle amounting to £7bn and has received 2,476 full applications worth £2bn.
Simon Ryder, director at First Financial, was the first introducer to complete a loan with Octane and the broker behind the 1001st loan, which completed in mid-October.
“To hit 1,000 loans is clearly a big milestone but, for me, it says even bigger things about the fantastic team we have built over the past three years,” commented Jonathan Samuels, CEO at Octane Capital.
“Everyone here at Octane is fully committed to what we do and the way we work and is forever going the extra mile for our brokers and borrowers alike.
“We’re now looking forward to our next major milestone, the imminent passing of £1bn of completions.”
He added that the specialist lender was also “especially proud” of its redemptions number.
“Anyone can lend,” he said, “but getting the money back is what matters.”
Simon stated that, since Octane launched, it had brought something “totally new and distinct” to the specialist lending market.
“…It doesn’t surprise me that they have hit 1,000 loans in such a short timeframe,” he noted.
“With the way they’re constantly innovating, and brokers looking for robust lenders in an increasingly uncertain environment, I’m sure there will be thousands more completions to come.”
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