Stephen Wasserman

West One completes £20m bridging loan

West One Loans has completed a £20m first charge bridging loan secured against a high-value site in a prime London location.

The specialist lender completed the deal in 18 working days after the original lender pulled out of the deal.

The property was unencumbered, and the funding allowed the client to develop their business further through the acquisition of another company.

West One Loans is currently lending around £600m per annum in bridging loans.

Stephen Wasserman, managing director at West One Loans (pictured above), said: “This was truly a team effort, and I’d like to thank Nick Russell from Creation Property Finance for bringing us the opportunity, and Stephen Evans-Jones at Fieldfisher LLP for their support in getting the deal over the line.

“We take a pragmatic view of more complex cases and larger loans over £10m, as well as borrowers with different circumstances.

“That means we do deals which others can’t through effective and agile risk management and dedicated resourcing.

“This commercial approach to dealmaking is at the heart of how we’ve always done business.

“We’re delighted to get this over the line, with it being one of our largest loans to date.”

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