- Octopus Property targeting over £150mn of Buy to Let lending during the next 12 months
- 2017/18 tax year saw record number of buy to let investors in the UK
- Market opportunity growing as mainstream banks retrench in face of regulatory changes
Specialist property lender Octopus Property, part of the Octopus Group, announces the appointment of Steve Matthews to the role of Head of Buy to Let Sales, effective immediately. Steve will drive Octopus Property’s growing loan book exposure in the sector, which is benefitting from robust landlord demand for competitively priced and swift financing and the favorable yields and tax reliefs available to investors in the sector.
Reporting to Head of Sales D’mitri Zaprzala, Steve, who has more than 18 years of property lending experience, will be responsible for leveraging Octopus Property’s market leading product range to increase the loan book exposure across England, targeting first time buyers through to portfolio landlords. To date, Octopus has provided just under £440mn of Buy to Let financing, and is targeting a further c. £150mn over the next 12 months.
Steve joins Octopus Property from Shawbrook, where he was Regional Development Manager, responsible for maintaining and developing relationships for Shawbrook Bank in the short term lending, specialist and commercial mortgage markets. Prior to that he held senior roles at the Co Operative Banking Group and Skipton Building Society.
Octopus Property’s Buy to Let product range offers property professionals with competitively priced and flexible financing options. Clients include foreign nationals, expats, first time landlords, complex company structures and portfolio landlords.
D’mitri Zaprzala, Head of Sales at Octopus Property, commented:
“The long term health of the Buy to Let market remains positive, despite the government’s best efforts to penalise landlords with a raft of tax and regulatory changes, as an increasing number of investors seek the reliable and attractive income it offers.
“At Octopus Property we have created a product range to meet the full spectrum of buy to let landlords. In particular, following the Prudential Regulation Authority decision affecting ‘four or more’ property landlords, we are seeing an increasing number of portfolio landlords taking advantage of our no limit criteria alongside our favorable rates and term sheets tailored to meet individual customers’ needs.
“Steve has established a strong reputation within the UK Buy to Let market, leveraging his in-depth understanding of what is driving landlord demand and his strong intermediary network, and we are pleased that he is joining the company at such an exciting time.”
Steve Matthews added:
“The market opportunity for alternative lenders has never been so great and I am excited to be joining a business that truly understands the requirements of property professionals, across both the residential and commercial sectors, and that has a track record and product range to consistently deliver for its customers.”
