The number of completions between July and September 2020 was up 125% on the same period last year, and 158% on Q2.
The lender also saw a 190% increase in applications compared to the same period in 2019, and a 156% rise compared to Q2 2020.
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Matt Smith, director of credit and risk at Octane Capital (pictured above), said: “The massive release of pent-up demand, subsequently boosted by the stamp duty holiday, resulted in a record third quarter for completions, with our entire team working flat out just to keep up.
“All our lending channels are pedal to the floor, from bridging and refurbs to developer exit loans, and our newly launched BTL product.
“Acquisitive landlords are taking particular advantage of our bridging facilities in order to expand and improve their portfolios in advance of a predicted surge in rental demand.”
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