What is a bridging loan?
It is an interest only, short term loan secured on land or property.
Where do you get your funds from?
West One Loans funding is secured through private investment.
Do you only lend on specific types of properties?
No. We lend on residential, semi-commercial and commercial properties and land regardless of the construction, type or use.
Is there any employment criteria for the borrower?
How long can I take a loan for?
A bridging loan is designed to be short term and is generally taken out for up to a year. However it is not uncommon for some loans to last two years.
How much can I borrow?
There is no ceiling on the amount of funding we can provide as long as you have sufficient security. Funding is generally secured on 75% loan to value.
What is the difference between a first and second charge?
A first charge is the primary mortgage or loan secured against a property which takes precedence over all other finance secured against it. If there is sufficient equity in the property, then a second charge could be secured against it.
What is the minimum amount you lend?
£30,000 net
How long does it take to get funds?
Each case is reviewed individually. However, if all the paperwork is complete, you could receive your funds in as little as 48 hours.
How long will it take to get a decision?
If you have supplied all the necessary information we need, in most cases we will give you an immediate decision.
Are there any upfront fees?
What interest rate will I pay?
Interest will depend on the loan to value ratio and the quality of the security, but can typically range between 0.85%-2% per month.
Can I repay the loan early?
Yes, if you manage to secure longer term funding, you can repay the loan early without penalty.
What is an exit route?
An exit route is a predetermined strategy to enable you to receive funds to pay back your loan within the required term. A sound and viable exit plan is an absolute must in any loan application.


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