Octopus launches commercial lending in Ireland
Octopus Real Estate, part of Octopus Group, has revealed that it will commence commercial lending in the Republic of Ireland.
A tailored solution for the Irish market, the product will offer support to brokers and borrowers, lending across the commercial real estate spectrum.
Clients will have access to short-term bridging finance upwards from €500,000, available for all types of commercial property transactions, including acquisitions, refinances, and equity release.
The product will be available across all asset classes, including land with planning for residential.
With an arrangement fee of 0.5%, the maximum loan to value is set at 70.0% and rates begin at 0.75% per month.
The product has no exit penalties, and the term length is between one and 24 months.
The launch of Octopus Real Estate’s commercial lending product is the first step in its ambition to grow its presence across Europe.
James Nunn, fund manager at Octopus Real Estate, said: “Octopus Real Estate is a leading short-term lender in the UK market, having completed c. £2.0bn of commercial loans over the last 10 years.
“We are known for our speed of execution, transparency and flexibility, and we want to introduce our service to a vibrant and growing new marketplace.”
Benjamin Davis, CEO of Octopus Real Estate, added: “Ireland is an important market for us, and our product launch offers Irish clients a trusted finance solution, backed by over 15 years’ experience in non-bank lending.
“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.”