West One is actively shaping the industry

By Marie Grundy, sales director

West One is one of the leading providers of bridging finance in the UK. In June we broke our own monthly record, lending £62m to bring our current book of bridging finance to over £400m. In total, we’ve lent around £2.5bn since we began lending over 10 years ago. Around 85% of our lending is to property professionals – investors, landlords and small developers – who will be the kinds of clients that many NACFB Members will have.

A part of the Enra Group since 2014, we are not only growing our bridging lending significantly, but we are also expanding into a wider range of specialist mortgage lending. In January this year, we launched a range of longer-term lending in the form of second charge mortgages, which now includes a range of BTL second charge products. Further new product lines will follow, adding to the options that NACFB Members will have for financing their clients’ property projects.

West One’s bridging proposition has been successful for four reasons:

  1. Commercially-minded underwriting: we are renowned for our ability to take a pragmatic view of more complex cases. That includes larger loans over £10m, unusual properties or land without planning, as well as borrowers with different circumstances
  2. Agility: urgent deadlines are often a key requisite of bridging finance. We take a proactive approach to ensure we can complete deals quickly, and in as little as under three days. In June we completed a £4m loan at 70% LTV in seven days, to help a client meet their completion deadline
  3. Range: we offer one of the most comprehensive range of bridging products in the market place, including regulated and unregulated on a first and second charge basis as well as commercial and bridge-to-let
  4. Rates: starting from as low as 0.55% per month, our rates are competitive across our range.

Our approach to second charge mortgage lending follows a similar direction, in particular with underwriting that takes a more bespoke, pragmatic approach in order to cater for borrowers whose needs are currently underserved.

We also take a leading role in our industry. Our West One Bridging Index has become a recognised source of industry insight since its launch in 2011. We are founder members of the Association of Short Term Lenders and members of the Association of Bridging Professionals, and take an active role in shaping the direction of bridging finance.

Having participated at the NACFB Commercial Finance Expo in June 2017, and met many Members, we are now returning to patronage of the NACFB. We are looking forward to working closely with Members to promote bridging and second charge lending as tools to help solve client challenges you might face.

We have a dedicated, national sales team who are here to support our broker partners – so, if you’re interested to learn more about our bridging finance or to register your interest in our second charge mortgages, why not give us a call or email us and our business development team would be happy to take you through the options.

We look forward to working with you.