The July results have exceeded the lender’s previous best figure of £37m in June, resulting in a 22% monthly surge.
West One announced earlier this year it had written over £80m worth of business in Q1.
Stephen Wasserman, Director of West One Loans, said that there had been a noticeable uptick since the election result as businesses and developers felt more confident with the uncertainties now removed.
“July’s prolific figure also shows that the post-election feel-good factor has well and truly kicked in for the bridging sector,” Stephen commented.
“We are confident that the bridging sector will enjoy a strong second half of the year and that West One Loans will continue to be a major player and a first port of call for clients seeking bridging loans.”
The short term finance sector is averaging around £500m on a bi-monthly basis according to the last West One Bridging Index.
“Our growth is attributable to a diverse product range and highly competitive rates,” added Stephen.
“Developers and businesses looking to use our products know that they are versatile enough to meet their needs and that this functionality will be backed up by a common sense approach to each individual case that will help to get the deal done.”
West One caters for all corners of the short-term market from first charges to second charges, and commercial to regulated loans.
Leave a comment