Octane Capital has reached 1,000 loan completions since its launch in 2017.

According to the lender, the total value of the 1,000 loans is estimated at £1bn and close to half of the loans (493) have already been redeemed, reaching a value of £451m.

The lender added that it has made 7,169 agreements in principle (AIPs), amounting to £7bn, and received 2,476 full applications, worth £2bn.

Octane Capital sees record completions in Q3

Octane Capital recently reported that Q3 2020 was its biggest ever quarter for completions, up 125% on the previous year.

Jonathan Samuels, chief executive at Octane Capital, said: “To hit 1,000 loans is clearly a big milestone but for me it says even bigger things about the fantastic team we have built over the past three years.

“Everyone here at Octane is fully committed to what we do and the way we work and is forever going the extra mile for our brokers and borrowers alike.

“We are now looking forward to our next major milestone, the imminent passing of £1bn of completions. We are also especially proud of the redemptions number.

“Anyone can lend but getting the money back is what matters. With Matt Smith and our credit team, we are in good hands on that front.”