New bridging lender Octane Capital has signed a partnership deal with its first network in Connect for Intermediaries.
Octane has joined both Connect’s mortgage network and the panel of its packaging arm.
Jonathan Samuels, chief executive of Octane, said. “We’re excited to be working with Connect Mortgages as Connect’s brokers really understand the bridging market, know how to package and present deals, and also can see the value in the ‘productless’ proposition we have launched.
“As a third generation lender, we want to work with companies who can think on their feet and that’s where Connect thrives.”
Connect for Intermediaries currently has 14 bridging lenders on its panel.
Octane came to market last week as a ‘productless lender’ that operates without a product sheet.
Liz Syms, chief executive of Connect for Intermediaries, said: “The brokers that use Connect for Intermediaries know the specialist lending market well and will welcome the flexibility that Octane can provide for clients in need of a bridging loan.
“As Octane will look at every loan on its individual merits, it means that they will lend if the business case stacks up, not because it subscribes to a particular LTV or loan amount.
“I believe that the market, and Connect for Intermediaries’ brokers in particular, have been crying out for this level of flexibility and individuality for some time and so we are incredibly pleased to be the first network and packager in the market to provide brokers with access to this exciting proposition.”