August 16, 2011
West One Loans has proven once again why it has quickly become a first choice provider for bridging finance by completing a complicated £1.9m loan in less than a week.
West One Loans were contacted by Chris Fairfax of leading packaging firm Positive Lending Solutions when a client needed to secure an 18 month loan on four properties in Hackney to a very tight deadline.
Having received the application on Thursday afternoon West One Loans immediately arranged valuations on the four separate properties. Then, having agreed a competitive interest rate, they organised the conveyancing, put the funding in place and were able to pay out the £1.9m on the following Thursday morning, less than a week later.
Duncan Kreeger, Chairman of West One Loans, said:
“Chris came to us with a complex case and a very short deadline. His client needed to refinance a loan quickly so the challenge for us was to pull everything together in just five working days. The fact that the security was four separate properties made it even more testing but we cracked on with the job and beat the deadline.
“There are very few lenders who could turn around a £1.9m loan in such a short space of time. At West One our unique privately funded business model means we’re able to agree loans quickly and deliver them with the minimum of form filling and underwriting usually required by mainstream lenders. It’s proving very popular to packagers like Positive Lending Solutions who usually need loans agreed and completed within very short timescales.”
Chris Fairfax, Managing Director of Positive Lending, the packager who introduced the application added:
“Another great job by all involved at West One Loans. Positive Lending enjoy a great working relationship with the team at West One and this case is a further example of our ability to complete complex bridging cases very quickly.
Read this article in Introducer Today