Octopus Property loan book tops £1bn

Specialist property lender Octopus Property’s drawn loan book has exceeded £1bn. The lender said it has had a bumper start to the year, amounting to more than £150m in financing. Octopus has sought to diversify its loan book from solely short-term residential lending, putting greater focus on alternative assets and commercial products. Some 48% of the drawn loan book sits in residential, with 21% in residential development and 31% commercial. It has more than £1.25bn in its loan book including committed capital, with an even split across residential, residential development and commercial lending. This includes a £36m student accommodation development