West One Loans made the headlines again this week following the release of data findings from our Bridging Index which pointed to the bridging sector breaking through the £1 billion mark this year.
Mortgage Strategy ran a front page leader highlighting Duncan Kreeger's comments in his regular column, which focussed on how fast the bridging sector has grown over the last 12 months.
"The latest version of our Bridging Index showed the average rate on a bridging loan dropped from 1.64% in 2010 to 1.41% in 2011. The bridging sector is more liquid than the rest of the mortgage industry, where uncertainty in the wholesale markets is pushing up lenders’ funding costs and raising monthly rates. Nor is the sector subject to the same liquidity squeeze as the high street."
Bridging and Commercial ran a feature story on how small bridges can be a vital source of income, yet tend to be overshadowed by by the big headline grabbing loans. Once again Duncan was quick to comment "Duncan Kreeger, Chairman at West One Loans, added: “Stringent diligence checks are carried out on all cases, irrelevant of the loan amount – the process is the same. The interest costs too are generally the same regardless of the size of the loan.”