Last week, Octane Capital launched with an unusual offering, in that it will not offer a product sheet with set rates determined by LTV but instead, each loan will be structured on a highly bespoke basis and priced according to risk.
Octane Capital will focus on complex, non-standard and larger loans that brokers may struggle to place with other lenders.
Mark Posniak, Managing Director, Octane Capital, commented:
"Justin is a well-known and highly respected figure in the bridging industry. Having someone of his calibre and experience come onboard at such an early stage is a strong vindication of our new lending model and what we are setting out to achieve. We have huge plans for the sector and there’s no doubt that Justin will help us to realise them.”
Justin Cooper, Senior BDM, Octane Capital, added:
“Bridging has constantly evolved over the past decade but, for me, what Octane Capital are setting out to do is without doubt the future. While brokers value the professionalism and transparency of bridging today, many also complain that it has become too transactional and formulaic. There is a real demand for lenders who do not blindly box-tick but understand risk and work alongside brokers to get even the most complex deals across the line. It’s this sense of partnership with brokers and intelligent loan structuring that Octane is all about, and as someone who works closely with brokers each day that naturally appeals.”
