Trade body announces exclusive bridging product

Trade body announces exclusive bridging product


The first in a series of exclusive lender products has just been launched by the Association of Bridging Professionals (AOBP) which is to provide its broker and introducer associates unique access to a competitive bridging product devised by lender, West One Loans.

The product will be accessible via eight of the UK’s leading packagers, the AOBP’s Executive Committee distributor members, and some of the product highlights will include: 

Term of up to 24 months with NO exit fee

13.80 per cent per annum

65 per cent LTV of the 180 day value

Commission available to brokers is the same as if you went to the lender direct, but with the added benefit of the packager’s expertise and service

Proc fees paid on the day the deal completes

Available throughout England, Wales and Scotland (central locations)

Commenting on the launch, Executive Committee packager and director of Vantage Finance, Lucy Hodge, said: “Packagers are always looking to work with lenders who have the ability to make innovative tweaks to their product ranges. West One Loans are a first-class example of a lender which wants to work with those who support them, and add value to their businesses.  

“It is encouraging to see the first exclusive product launched through the AOBP and this further demonstrates the benefits available through membership.”

This product is only available to AOBP Blue Associates through contacting one of the eight packagers endorsed by the AOBP, and come with the comfort of knowing that you will receive a professional, personal approach to your enquiry and experience a genuine willingness to get deals done.  

If you would like to access this exclusive product by signing up for complimentary associateship to the AOBP, simply contact one of the distributors for further information. 

Duncan Kreeger, Chairman of West One Loans said: “This is an excellent product with a competitive 13.80 per cent per annum rate and no exit fee. Although we’ve agreed service level agreements guaranteeing proposed terms within three hours, we should be able to help brokers turn deals around even faster because we refuse to tie people in red tape. 

“Despite going through the AOBP Executive members, brokers will still receive exactly the same commission as if they’d come through us directly. And as we pay our proc fees immediately – on the day the deal completes – brokers will get the money they’re owed far faster than the industry average, too. Not only that, but because we employ one experienced administrator for every person signing off a loan – double the industry average – the deal will be completed just as fast as you would expect from West One Loans. All in all, we think this is a very attractive proposition.”

Simon Juniper, director of specialist distributor Only Bridging and AOBP Executive Committee members commented: “This new innovation by the AOBP confirms its worth within the bridging market and further illustrates its commitment to both lenders and intermediaries. I'm sure that the West One product will be a huge hit and wait with anticipation for the next lender offering.”

AOBP Blue Associates who wish to access the product can do so by contacting the following Executive Committee distributor members here.


Leave a comment