The loan is available between £150,000 and £1m on first charge residential bridging loans only and offers rates starting from 0.7% on regulated cases and 0.75% on unregulated cases.
Tom Cantor, co-head of short-term finance at West One, said the new loan is not available for rebridging cases or properties requiring works beyond light cosmetic improvements. He added that the product is available only for UK residents and nationals with a clean credit profile.
Cantor continued: “We’ve built a strong reputation for delivering on complex, high-value transactions, so you can imagine what we’re capable of when the deal is straightforward. With this product, we want to show brokers the outcomes that are possible when competitive rates and excellent service come together on a straightforward deal.”
West One Loans is one of the UK’s largest non-bank specialist property lenders. Operating through offices in Watford and Manchester, it manages over £2.1bn in assets and targets its lending at individuals, landlords, and businesses whose needs are not met by traditional high street banks.
The lender has made several recent changes to serve more customers, upping its lending to up to 5.5 times income on its core product, a rise from five times income for purchases and remortgages across all product credit tiers.
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