Octopus Property has announced that it originated £83m of new lending in April, a record for the business as it continues to attract both new and existing borrowers to its growing product range.
44 new loans were originated in April, spanning Octopus Property’s full-suite of products including refurbishments, ground-up developments, commercial acquisitions and developer exits across London, Birmingham, Brighton, Cambridge, Gloucester and Worcester.
Regional highlights included a £1.32 million two-year term loan which allowed a capital raise against an unencumbered asset in Gloucester; two deals in South Yorkshire worth £300,000; and an £850,000 refurbishment facility for a property in Harrogate, North Yorkshire.
Mario Berti, CEO of Octopus Property, said: “Following a successful 2017 and the more recent achievement of passing of £3 billion in lending, we are encouraged by yet another milestone which further reinforces our Lifecycle Lending strategy and continued commitment to expanding our regional teams and growing our product ranges, to better meet the varied need of our clients across the UK.
“We continue to position the Octopus Property brand as synonymous with flexibility and speed, delivered by a first-class team.
“The market for alternative lenders is going from strength to strength, a trend highlighted in the recently announced Cass Lending Report and which we expect to continue for the foreseeable future.”
Octopus Property, part of the Octopus Group, is a leading specialist UK property lender. We work with a diverse range of industry professionals to provide bespoke, customer-focused financing solutions, typically ranging from £100,000 to £50 million. Since it was founded in 2009, Octopus Property has provided more than £3 billion of financing, across 2,700 loans.
Octopus Property’s product offering spans the commercial investment and residential investment and development sectors.
Octopus Group manages over £7.5 billion on behalf of more than 150,000 customers and is one of the UK’s fastest growing companies.
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