The move will allow Smart Money’s introducer partners to access West One’s range of second charge loans.
West One entered the second charge sector in September and as Specialist Lending Solutions exclusively revealed last month, is set to enter the development finance market early next year.
Smart Money managing director Paul Crewe said he was impressed with West One’s introduction to the market.
“West One has built a solid reputation within specialist lending circles and although it is still relatively new to the second charge marketplace it has already made a big impact,” he said.
More new entrants
“The second charge marketplace is developing quickly, and a number of attractive options are emerging for intermediaries and their clients. I expect more new entrants within this space in 2018 and if they are as flexible, committed and service orientated as West One then this can only be a positive thing for the sector as a whole,” Crewe added.
West One Loans sales director Marie Grundy said launching into second charge was an important milestone in the development of its long-term lending.
“The second charge market is continuing to demonstrate significant growth, and we’re delighted to partner with firms like Smart Money, who have in-depth knowledge about the sector,” she said.
“Our proposition is built upon West One’s solid reputation for taking time to understand individual borrowers’ needs, meaning we can cater for those who require a bespoke approach to lending.”