West One lends £62m in one month

This brings the short-term bridging lender’s total loans under management to over £400m.

West One recently announced that it would be launching into the second charge mortgage market in Q3 this year, broadening its reach into the specialist lending arena.

The news come just two months after West One completed a £520,000 bridging loan in less than three working days.

Stephen Wasserman, managing director of West One Loans (pictured above), said: “June was another record month for us, with £62m provided to fund both residential and commercial property loans.

“The market is growing and remains active, with a solid base of transactions in the marketplace, suggesting it’s in a robust position.

“Nevertheless, the slower growth than previously means the sector remains highly competitive.

“In spite of that, we have seen a significant rise in requests for our specialist financing and are committed to providing tailored and flexible funding solutions.

“We’re proud to be able to help so many borrowers with the financing they need, and excited to continue this further with the launch of our second charge mortgages in the near future.”

West One’s bridging index showed that gross annual lending grew steadily to £4.2bn in Q1.