Octane hits record month lending over £30m in May

The facilities were completed over 26 loans and consisted of deals ranging from values of £150,000 to £10,560,000, for a variety of uses such as auction purchases, specialist HMO refurbishment facilities, planning bridges and developer exit loans.

Security on the loans included MUFB’s, houses and flats (with and without planning for conversion) as well as semi-commercial units, land with planning and mixed-use portfolios.

The company had also recently made four new hires, part of its aim to hit its £1bn loan book target.

Jonathan Samuels, CEO and founder of Octane, said: “Lending over £30m in a month is a significant milestone and comes off the back of a strong April and first quarter of 2024.

“Loans ranged from a small HMO refurbishment where we funded all the work, to a large multi-property student accommodation purchase.

“This diversity of lending reflects the Octane offering and the completion levels are testament to the team, their service level and work ethic.”

Richard Deacon, managing director of sales at Octane, added: “Since the very start of the year we have seen increased levels of activity for all of our bridging products, but more specifically in our refurbishment and developer exit offerings.

“What with the recent re-brand, it has been an incredibly exciting time here at Octane.”