Octane completes four loans in 24 hours

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  • 24/03/2020
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Octane completes four loans in 24 hours
Octane Capital completed four loans in one day as the lender insisted service standards would remain the same while its staff transitioned to remote working.

 

The loans which were completed included a £230,000 development exit facility on two properties in the South East and a £390,000 bridging loan to help a borrower purchase another property in London.  

It also completed a £660,000 buy-to-let loan to a foreign national purchasing a flat in Battersea, London and a £700,000 refurbishment loan comprising a £450,000 land loan and £250,000 towards development. 

The lender said it was business as usual as many of its operations were already conducted either online or over the telephone. Octane is still receiving applications and enquiries as normal and will continue to review risk on an ongoing basis, it said. 

Jonathan Samuels (pictured), CEO of Octane Capital, said: “These are extraordinary times, but we wanted to make it clear to the broker community that we are fully committed and will continue to lend as close to normally as possible.” 

Mark Posniak, managing director of Octane Capital, added: “All our staff have been working remotely since early last week and, in the weeks and months ahead, subject to the health of our team, there will no impact at the operational level on either existing or future applications.  

As the four loans completed in the past 24 hours hopefully show, we remain hungry to lend and will do our utmost to serve the broker community during these unprecedented times.” 

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