Octopus Property lends record £80 million in November
Specialist property lender Octopus Property, part of the Octopus Group, today announced that it originated £80 million of new lending during November, a record for the business, as it continues to attract both new and existing borrowers to its growing Lifecycle Lending development, residential and commercial product range.
- A £31.3 million short-term loan to fund the purchase of a West London office development
- A record development deal of more than £20 million for a Brighton residential scheme
- First loans originated with the new Commercial Term product and latest Buy-to-let product
- Loans completed across residential, commercial and development product sets
Mario Berti, pictured, CEO of Octopus Property, commented:
“2017 has been a year of records for Octopus Property, a strong endorsement of our strategy to become the leading provider of specialist property finance in the UK. Underpinning all of this is the continued growth and excellence of our first-class team to over 60 people, and further diversification of our product portfolio.
“This record month demonstrates the increasing demand for our unique Lifecycle Lending proposition, as borrowers seek efficient and bespoke financing solutions from lenders that really understand the complexities of property development and investment. It is also further proof that the market for alternative lenders is going from strength to strength, driven by supportive macro conditions and increasing retrenchment by more traditional lenders.”