Bridging lender completes record £7m Belgravia loan

Bridging lender completes record £7m Belgravia loan


A North-London bridging lender has announced the completion of a £7 million bridging loan – its largest to date.

West One Loans, which is privately funded, said the deal was on a substantial property in Belgravia, with the owner requiring refinance and additional funding for further capital investment.


The 9-month bridging loan was constructed completely through private investor funding, in line with West One’s signature funding model.



Duncan Kreeger, (pictured), one of the founding partners of West One, called the bridging loan ‘our largest to date’ and ‘highly typical’ of the kind of access it has to private finance sources.


Daniel Fireman, partner at CKFT Solicitors who advised West One Loans on the deal, called the property arrangement ‘unorthodox’, saying: “This very substantial loan was secured on a relatively unorthodox property arrangement involving unique title, planning and security issues arising out of a very short lease in a mixed use prime residential area and an ongoing enfranchisement process.


“The professionalism and extraordinary degree of co-ordination between the team at West One, its investors and all the professional advisors involved enabled the challenges that arose to be swiftly addressed and resolved to satisfy the borrower’s expectations whilst fully implementing of all West One Loans’ security requirements.”


Duncan Kreeger added: “Our business model offers lenders an opportunity to participate in specific loans secured on highly marketable properties at relatively low loan to values.


“Many borrowers are beginning to recognise the real benefits of our unique funding model which cuts out the middle man, meaning funding decisions are agreed quickly and efficiently without any of the added hassle of getting bank’s actuaries involved.”


The Borehamwood-based bridging firm has completed over £43 million worth of deals since launching to the market last year.


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