West One Loans reveals record November figures

West One Loans has announced record figures for November 2019, lending over £100m through the month.

The specialist lender said that it had strong performances from all product lines including bridging, development finance, second charge mortgages and specialist BTL mortgages.

West One revealed that short-term lending in November reached more than £79m across its bridging ranges – with second charge, development finance and specialist BTL products making up the remainder.

In terms of its bridging business, West One had already achieved a record month in April earlier this year – a month which included completing its largest ever loan – and in the lender's Bridging Index, West One suggested November’s completions of approximately £80m ‘shows the maturity of the bridging sector’ during an ‘uncertain time for the property market.’

West One announced that its second charge business had also reached two other milestones recently – reaching £100m in 2019 completions during October, and that in November it had reached 3,000 cases since the launch of its product in early 2018.

CEO of Enra Group, West One’s parent, Danny Waters, commented: “What a fantastic month. It’s particularly pleasing because the performance is now being driven by both our long-established products like bridging and second charge as well as our more recently launched products like development finance & specialist BTL.

“In the face of continuing Brexit uncertainty West One’s credit appetite remains cautious, but by focusing on our distribution relationships and great customer service we’re continuing to see business come in at record levels.”

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