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Octane Capital in loan book acquisition talks with multiple lenders

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  • 15/01/2019
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Octane Capital in loan book acquisition talks with multiple lenders
Octane Capital has revealed it is in preliminary discussions with several lenders about potential loan book acquisitions.

 

The business believes some lenders may be under stress for a variety of reasons, but that there were no serious structural issues within the market.

It noted that those lenders with legacy books may be feeling the impact of the property price correction in prime and central London especially.

“We have had some conversations but it is early days,” Octane Capital managing director Mark Posniak told Specialist Lending Solutions.

“We think there are going to be opportunities in the next 12 months in light of all the economic issues and uncertainty surrounding Brexit and everything else.

“The message isn’t that we’re about to announce an acquisition of X or Y.

“But we are talking to a few people already, I can’t name names, but we are very much open, talking to a handful of people and we’re open for more.”

He added that the industry would probably expect such moves from the lender “because of our background and our history”.

Octane Capital was formed 18 months ago and has lent more than £360m during this period.

The firm is aiming to complete more than £500m in organic lending this year and added that if the right opportunity presented itself at the right price, it had funds and infrastructure in place to act.

 

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