West One Loans reports jump in bridging business

West One Loans has recorded a strong performance from its bridging product and industry-leading turnaround times, after the lender published its short-term lending results for the first half of 2021.

The specialist bridging lender, which has remained open for business throughout the COVID crisis, confirmed a total of £2.3bn sets of terms were issued in H1 – a figure up 29% on the same period last year.

The overall increase in activity in the housing market, as well as demand from borrowers expanding and diversifying their portfolios, have been some of the key drivers for West One’s performance this year. The lender reported gross completions climbing by 32% from H1 2020 to £485m for 2021 throughout its short-term bridging and development offering.

West One also reported the average turnaround time for its loans to complete is currently 25% quicker than the industry average, which an EY study this year revealed stands at 40 days or over.

The lender’s sales director for bridging, Nick Jones, said that there is clearly high demand in the market at present.

“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,” Jones commented.

“Our long-standing and strong relationships with our broker and intermediary network have also been a key factor. When you’re working with quality partners day-in day-out, it makes the whole process more efficient and helps bring down the turnaround times to industry-leading levels.

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

    Share Story:

Recent Stories


Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.

An outlook on the BTL market
MoneyAge Editor, Adam Cadle, talks to Landbay senior regional account manager, Alex Witham, about current market sentiment within the BTL space and Landbay’s success in this area

Empowering advisers: A decade of education in Later Life Lending with Air Academy
Michael Griffiths is joined by chairman of Air Club and former founder and CEO of Air, Stuart Wilson, and head of the Air Academy, Daniel Holden, to look back on a decade of business focused learning at the Air Academy.


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.