West One Loans provides £520,000 bridging loan is 3 days

By Bridging Loan Directory 4th May 2017

Specialist bridging lender West One Loans has facilitated the completion of a bridging loan in under three working days. The lender completed a loan of £520,000 to enable a client to purchase a single unit in North London with planning to convert into flats.

West One was already familiar with the client, having worked with them on a related transaction recently. Despite complex circumstances, West One was able to move quickly to finance two transactions for the client when another lender was unable to complete the deal within the urgent timeframe specified by the client. As a result of the due diligence being up-to-date and the client’s solicitors having already completed searches, the transaction could proceed to complete within the notice period.

The deal was enabled by the West One team’s commitment to delivering high-quality, flexible service.

Marie Grundy, pictured, Sales Director at West One Loans, comments:

“The highly competitive property market is being fuelled by ever increasing demand and a near-chronic supply side issue. In this environment, actually being able to complete a deal has never been more important. We’ve just announced reductions in rates across our portfolio, yet this deal is a critical reminder that the ability to complete matters to many of the clients who turn to bridging finance.

“Reaction times combined with the capacity to understand what the client is trying to do with their property are both vital, we were able to cut through the red tape and support the sale while other lenders were unable to do so. Transactions like this showcase the real need for flexible bridging finance to support investments of all shapes and sizes.

“More than ever before, shrewd investors are working to ensure they are up-to-speed on the myriad financing options open to them, making sure they are able to utilise the appropriate funding routes needed to keep up with today’s property market.”

Mobeen (Mo) Chishti, Managing Director of Total Money Management, comments:

“We have recently added West One Loans to our key trading partners. It is great to see a bridging lender actually reverting to traditional bridging and great service. We have now witnessed the quickest bridge in recent times taking less than three working days. This client was let down by another lender but back to basics and common sense lending prevailed. Our introducer was very impressed, as was their client.

”We have recently completed an office move, and are looking forward to launching new products for introducers and a dedicated website for quick bridging and development finance. West One Loans will be instrumental in enhancing even better service levels. Client focused realistic pricing will also be kept at the forefront of every deal.”