One of the UK’s largest privately-funded bridging finance companies has completed a major bridging finance loan.
West One Loans has announced the completion of a £4.8 million bridging finance loan involving two properties which are valued in excess of £9 million.
The loan saw finance capital raised on an existing hotel in Earls Court and the purchase of an outstanding listed building of over 5,000 sq ft in Fulham.
Two clients, an individual and an offshore company, made the application for the bridging loan.
Duncan Kreeger, Chairman of West One Loans, said: “This is the latest in a series of loans we have agreed and we are pleased to be in a position to provide funding for what was a very complex purchase.”
The privately-funded company has seen substantial growth in recent months. The capacity to provide fast, crucial decisions and 18 month terms is something that the company strives to achieve.
A spokesperson for the packager of the deal, Khardr Commercial Finance, said: “West One were incredibly helpful and responsible to the client from the moment the enquiry was generated. They were fast and efficient and managed to deal with the complexity of the case with outstanding ease. As far as we are concerned, West One managed to bridge the gap of commercial and residential bridging in a way that other lenders we spoke with weren’t able to”.
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