Octane Capital adds BDM to boost mainstream product expansion

Last week Octane Capital announced it would be opening its products into mainstream lending.

While it had focused primarily on non-standard and complex loans the lender said demand meant it was expanding its offering.

Octane noted that following broker requests for it to finance more vanilla deals, and the ease with which they were structured, it had decided to open its doors to all loans.

The lender passed £100m of completions at the end of last year and said it was fast approaching a loan book of a quarter of a billion pounds, with more senior hires to be announced soon.

Growing team

Knight’s appointment is the latest addition to the Octane team, which has grown from three to fifteen since launch.

Knight (pictured) commented: “The calibre of the team here at Octane, coupled with how exciting I find the disruptive nature of their business model, made this an opportunity I couldn’t resist.”

He continued: “I’m fortunate to have joined just as product-less lending is being made available across the market as a whole. And with demand already soaring, I can’t wait to get stuck in.”

Knight was previously leading a tax-efficient investments sales team at Mariana UFP, where he created the company’s first enterprise investment scheme and business relief funds.

Prior to Mariana, Knight was a BDM for three years at Octopus Investments, with responsibility for the London region.

Big plans

Octane Capital launched in May 2017 offering residential and commercial bridging, and medium-term buy-to-let loans. It also prices according to risk as opposed to loan-to-value (LTV).

Mark Posniak, managing director at Octane Capital, said: “We’ve known Josh for a number of years, and he’s always someone you want on your team. His experience of working with intermediaries will stand him in good stead when dealing with the growing ranks of brokers who are sending clients our way.

“We have big plans for 2018 and there’s no doubt that Josh will help us to achieve them,” Posniak added.