Octane Capital celebrates first birthday with record lending month

The ‘product-less’ lender, which launched in early May last year, completed £30m of loans in April, its biggest month yet, and passed £150m of completions in its first year.

Dominic Sheahan joins the team from Kent Reliance and will be starting as a senior business development manager from June.

Octane today also confirmed the departure of Tom Clark, Sales Director, who was part of the launch team.

Octane Capital prices according to risk rather than loan-to-value, meaning each loan is uniquely constructed. In January, it extended its lending model from non-standard to conventional loan applications.

Jonathan Samuels, CEO of Octane Capital, commented: “To pass £150m of completions in our first 12 months and £30m in April alone, our biggest month yet, is the perfect way to celebrate our first birthday. But since launch, the most satisfying thing of all has been the way brokers have embraced the ‘product-less’ lending model we offer. The third generation of lending is focused on getting simple and complex clients alike to completion in the quickest time possible, not adherence to rigid and often uncommercial criteria.”

Mark Posniak, managing director at Octane Capital, added: “We’re delighted to welcome onboard Dominic Sheahan, a highly experienced BDM, who we are confident will make an immediate impact and help us to further scale the business in line with our growth plans. As a company, we would also like to wish Tom Clark all the best for the future.”