£1.825m Commercial Bridging Loan completed in Wembley

£1.825m Commercial Bridging Loan completed in Wembley


One of the largest privately funded bridging finance companies has just completed a deal on a multimillion pound property in Wembley.

West One Loans was able to supply the £1.825 million the client needed to purchase a commercial property in Wembley, after they were let down by a high street lender.

Duncan Kreeger, Chairman of West One Loans, said: “This deal is a perfect example of how bridging finance provides a service where high street banks are unable to help. Our client was effectively left high and dry at the eleventh hour with their funding being pulled due to circumstances beyond their control.

“West One Loans was able to provide the funds for the deal to complete within five days and facilitate the loan, something that high street lenders would have been unable to do at such short notice.

“Many borrowers are beginning to recognise the real benefits of our unique privately funded business model which cuts out the middle man, meaning funding decisions are agreed quickly and efficiently without the stumbling block of getting high street lenders’ actuaries involved.”

The client approached West One Loans after they were let down by a high street lender at the last minute. The bank had to cancel the agreed funding after restructuring their management board. West One Loans stepped in and enabled the deal to go ahead at the last minute.

The property has a purchase price of £3million and has previously been let to multiple tenants including a bank. The client intends to rent out the property in the short term, but has re-development plans for the future.  The client intends to apply for planning permission, as the building has already been allocated as a potential development site.

Danny Waters, CEO of Enterprise Finance, the packager who introduced the application, said: “Enterprise Finance has a valued relationship with West One. We perceive it as a close partnership and as a consequence we know we can often complete complicated transactions with a minimum of fuss in record time. This loan, which completed in less than five days, is an excellent example of how a close working relationship can really pay off.”


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