The specialist lender had previously decided to “limit” its lending in the PCL space following the result of the EU referendum in 2016.

Octopus Real Estate has now revealed that it has removed all “arbitrary limits” on properties in the PCL market, a move which D’mitri Zaprzala, head of residential at Octopus Real Estate (pictured above), described as a “crucial change” in an exclusive interview with Bridging & Commercial.

“…We will generally look at each and every transaction on its own merits, so we're not saying we're limited to values of this … we'll put our best foot forward in terms of what level of gearing we'd be comfortable [at],” explained D’mitri.

“[PCL] is an area we know very well, [and] we've got a lot of experience in lending there.

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“We've got the firepower to transact on the types of volumes that we see in that area and we feel [that] now is a good time to be supporting our brokers and borrowers in that space again.

“We see some confidence returning to that market [and], while people will still be treading very carefully and cautiously, we see it as an opportunity to enter that market again.”

Octopus Real Estate has already managed to complete a £4.6m bridging loan at 60% LTV for a property in Chelsea, south west London.

The loan was issued on a 12-month term for a large, three-bedroom apartment in just five weeks.

D’mitri added that Octopus Real Estate had witnessed a “huge uptick” in enquires since it revealed to its brokers that it had returned to the PCL market.

“…We're getting a lot of phone calls on the back of the fact that: a) we're back in that market, and b) we've got the experience of doing it…

“…Some of these deals [are] simply too big or too complex for a lot of other lenders in the space, but these are the sort of deals on which we thrive.”