Matt Smith

Octane completes £400,000 bridge in four days




Octane Capital has provided a £400,000 bridging loan for a client of specialist packager CPC Finance within four days of initial enquiry.

The loan was secured against two properties in Southall, west London, which the client had built, but needed to rapidly refinance in order to avoid repossession after another short-term lender had let them down at the last minute.

Matt Smith, director of risk at Octane (pictured above), said it needed to act quickly and managed to turn the survey around in just 48 hours.

“We were immediately comfortable with the deal and – with the help of Karl Griggs [of CPC Finance] – were able to get it across the line in just four days.

“It wasn’t the biggest loan but, for me, this was bridging at its finest.”  

Karl Griggs, director at CPC Finance, added: “My client had been badly let down with just days to spare and I immediately knew Octane would be one of the few lenders that could respond so quickly under this kind of pressure.

“[Its] risk team takes impossible deadlines in [its] stride with the result that my client now has a year in which to sell the two properties.”

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