Octopus Real Estate expands into Republic of Ireland

  • 02/11/2021
  • 0
Octopus Real Estate expands into Republic of Ireland
Octopus Real Estate has confirmed it is to start commercial lending in the Republic of Ireland as it looks to expand beyond mainland UK.

The lender said its product will offer support to brokers and borrowers across the commercial spectrum, with borrowers offered access to bridging finance of upwards of €500,000 (£425,000) for all sorts of commercial transactions, including purchases, refinancing and equity release. It will be available across all asset classes, including land with planning permission for residential development.

The maximum loan to value is set at 70 per cent, with rates starting at 0.75 per cent per month. There are no exit penalties, an arrangement fee of 0.5 per cent, and term lengths stretching from one to 24 months.

The lender said this expansion is the first step in its bid to grow its presence across Europe.

Benjamin Davis, CEO of Octopus Real Estate, noted that Ireland was an important market for the lender.

He continued: “The Irish commercial property market is thriving, and the launch of our commercial lending product will enable the funding of developments of scale across the commercial spectrum. We have a reputation of providing best in class service and attractive lending rates. We believe this product, coupled with our experience in commercial lending, will be a positive addition to the Irish market.”

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