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Lender readies to launch into second charge mortgages – exclusive

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  • 24/05/2017
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Lender readies to launch into second charge mortgages – exclusive
West One Loans, the specialist bridging lending, has launched into the residential second charge mortgage market to broaden its overall offering.

The lender has been building its team over recent months and will be led by lending operations director Paul Simpson, head of risk Ed McAra and sales director Marie Grundy.

West One will offer second charge mortgages on both residential and buy-to-let properties with a range of product options. As yet, no further product details have been released as the range is tested internally ahead of the launch earmarked for quarter three.

Grundy (pictured) was formerly managing director of second charge master broker V Loans from November 2007 to December 2016 and sat on the board of the Association of Mortgage Intermediaries until the end of the last year.

Both Simpson and McAra previously worked for GE Money and Money Partners. Simpson also spent time at Morgan Stanley before joining West One. McAra joined the firm from Omni Capital.

The range will initially be distributed through master brokers. The move is underpinned by new lending systems and a broker portal, designed with brokers in mind.

Grundy said: “We are hugely excited about extending our product reach to include second charge mortgage products.

“Our proposition will deliver an extensive range of second charge mortgage solutions, built on West One’s solid reputation for taking time to understand individual borrower’s needs, and combined with an in-depth understanding of the seconds market. This means we can cater for borrowers who require a bespoke approach to lending, including those who are currently underserved, such as the self-employed, older borrowers and those with less than perfect credit histories.”

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