21 Mar 2019

We've reached a £1bn loan book

Our loan book has exceeded £1 billion, following a period of record growth underpinned by a diversified product offering and an increasingly UK wide remit. 

Mario Berti, CEO, commented:

"This is an incredible achievement for the business and is a testament to the hard work and commitment of the team. We wouldn’t have got where we are without the ongoing support of our intermediaries, who have enabled us to serve an increasingly diverse range of borrowers in our core markets such as London, as well as new regions across the UK. 

Despite the broader macro uncertainty, this success has been based on a combination of the inability and unwillingness of bank lenders to evolve, the favourable underlying drivers supporting UK real estate investment and our ability to stay ahead with flexible and comprehensive products, as well as great customer service. With the backing of the Octopus Group, which has £8.5 billion of assets under management, coupled with our growing and extremely experienced team, we are well placed to continue to increase our lending to borrowers throughout the UK."

Following a record start to the year which has seen us commit more than £150 million of finance, we're on track to lend a record £850 million in 2018/19, as we continue to see opportunities to provide a range of residential, development and commercial loans across both mainstream and alternative sectors, across mainland UK.  

Recent highlights include:

- Commercial deals in Birmingham, Derby, Manchester and Edinburgh, taking the commercial loan book past £300 million

- A record £36 million development loan, funding a Purpose-Built Student Accommodation scheme in Coventry. We're targeting a £1 billion development loan book, as we look to capitalise on the favourable demand supply dynamics and supportive demographic shifts in its target sectors

- The launch of a single unregulated bridging product and changes to the refurbishment offering, the latter increasingly popular at a time when parts of the UK housing market are cooling. Introduced in direct response to borrower demand, they are latest in a line of innovative products underpinning our comprehensive product suite.

- A £31 million refinancing facility on a major mixed-use development scheme in South West London with a Gross Development Value of c. £210 million, demonstrating Octopus Property’s ability to compete in a market historically dominated by the more traditional forms of financing.

Thank you to all our clients for your ongoing support to help us achieve this milestone.