Octane Capital reaches £250m of redemptions
Bridging lender Octane Capital has passed £250m of redemptions since launching in 2017.
The lender has reached £125m in 2019 alone and has reported a record Q3 in terms of loan numbers and value.
Jonathan Samuels (pictured), chief executive at Octane Capital, said: “To hit quarter of a billion of redemptions is a huge boost for everyone at Octane, as it confirms we are on the right track with our risk and means we can get more money into the market.”
Some 40% of the redemptions since launch have been by way of sale, with 90% of the loans with a sale as their intended exit managing to achieve it.
Samuels added: “What particularly stood out for me is that nine in 10 of the loans where sale was the intended exit have achieved precisely that.
“It suggests there’s decent liquidity in the market if you’re exposed to the right properties in the right areas.
“The fact that the third quarter, leading up to the 31 October Brexit deadline, has been our biggest yet also suggests there are a lot of investors who are making the most of the current uncertainty.
“Brexit appears to have buoyed investors rather than bulldozed their confidence.”