Octane lent West Rock Capital’s client the balance of £1.35m, or 90% of the purchase price.
Loans can be up to £3m in size and have a maximum LTV of 75%.
Offa will initially provide Shariah-compliant residential and commercial bridging loans across the UK.
The board includes five lender member representatives and one associate member representative plus the chief executive.
TMA members will have immediate access to Together’s range of buy-to-let, residential, second charge lending and bridging solutions geared towards specialist customers.
The MCI Mortgage Club currently has 36 lenders on its panel and 750 individual intermediary members.
There’s also an uncommitted option to wrap to a further bridge after works are completed.
Chief executive Antonio Michael (pictured) and founding director Ollie Hines-Lloyd were both former Enness brokers
The specialist distributor has set up a second charge division – First 4 Seconds.
The July Rightmove House Price Index and RICS Residential Market Survey together showed units are not being sold at the anticipated price or speed.