West One Loans

West One posts record H1 for bridging business

West One has revealed it issued a total of £2.3bn worth of short-term lending terms in the first half of this year, a 29% surge on the same period in 2020.

The six-month period saw gross completions up 32% to £485m throughout its bridging and development offering.

An increase in activity in the housing market and demand from borrowers expanding and diversifying their portfolios have been cited as key drivers of performance at the specialist lender. 

Nick Jones, sales director for bridging at West One, said: “It has certainly been a strong period of growth for the business and really sets the pace for the second half of the year as we expect to build on this success.

“Clearly there is high demand in the market, but the level of customer service, quality of the product, and quick turnaround time from the team at West One has meant we’ve been able to maximise those opportunities.

“Our longstanding and strong relationships with our broker and intermediary network have also been a key factor. 

“It also demonstrates the strength of the bridging finance sector right now, as people are increasingly looking to specialist lenders to achieve their property-owning aspirations.”

Myles Williams, CEO at First 4 Bridging, added that the results demonstrated West One’s commitment to the industry over the past year.

“West One’s positioning in the marketplace with its broad product offering, coupled with the quality and speed of service, makes them a go-to lender for time sensitive and larger loan size applications. 

“This company knows short-term lending.”

In April, the business revealed that bridging finance made up the majority of its total completions during Q1.

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