West One to enter development finance lending – exclusive

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  • 24/10/2017
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West One to enter development finance lending – exclusive
West One Loans is to expand into the development finance sector in the first quarter of 2018.

The move marks another step in its expansion – after starting in the bridging finance market ten years ago, earlier this year it moved into second charge lending.

West One Loans managing director Stephen Wasserman told Specialist Lending Solutions it would start with a pilot project before expecting to complete the full launch early in the New Year

He added that the move would fit client borrowing needs within the sector.

“When someone has a bridging loan on a property, often they then seek a development loan once they have planning permission. And then they refinance again when they come to sell the property.

“By offering both bridging and development finance we can make those steps easier for the borrower,” he added.

In September the lender announced it was expanding its sales development team in preparation for its strategic push.

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