Octane Capital is taking its ‘product-less’ lending model into mainstream bridging.
Until now, the lender has focused primarily on non-standard and complex loans. However, following broker requests for it to finance more vanilla deals, Octane Capital has now decided to open its doors to all loans.
Jonathan Samuels, CEO of Octane Capital, said: “Product-less lending comes into its own with complex loans, as it provides a blank canvas on which to structure them, but in recent months a number of brokers have asked if we could help them with more vanilla deals.
“We were naturally happy to and, when putting the loans together, found the process to be effortless as we weren’t constrained by the parameters of product-based lending. On the back of these trial cases we have decided to take third generation lending into bridging’s mainstream.”
Mark Posniak, Octane’s managing director, added: “The product-less lending model was untried and untested but the broker community has embraced it and demand has been growing by the day. Brokers love the fact that they’re not having to shoehorn a client into a fixed loan category but can instead work with a lender from the bottom up.
“We’re now hugely excited to be offering this new lending model to the market as a whole. 2018 is the year third generation lending will come into its own.”