Octane reaches £500m of redemptions
Octane Capital has announced it has passed £500m of redemptions since launching in May 2017.
Breaking the data down 40%, or £200m, of the redemptions have been by way of sales.
Meanwhile 60%, or £300m of the redemptions, were achieved through refinancing.
The liquidity created by the redemptions is enabling Octane to further widen the distribution of its zero stress-tested buy-to-let product during 2021.
Matt Smith, director of credit at Octane Capital, said: “Half a billion pounds redeemed is a significant achievement for our credit team, which is by far the best I have worked with in all my time in the industry.
“As everyone in this sector knows, it’s easy to lend but far harder to get the money back in, especially when you are in the middle of a global pandemic.
“Best of all, the funds redeemed put us in a great place to push the boundaries of lending during 2021, particularly through our buy-to-let product.
“With zero stress testing, this product is proving exceptionally popular as investors take advantage of the stamp duty holiday and strengthening rental market.
“With high street lenders growing ever more cautious on buy-to-let, we are perfectly positioned to take up the slack and will soon be further widening our distribution.”