October 17, 2011
Bridging lender West One Loans has agreed an outsourced asset management deal with property consultants Oakes CPS. The deal will see associate director Ben Hubbard transfer to their offices in Borehamwood, Hertfordshire on a semi-permanent secondment.
West One Loans will employ Hubbard to monitor service times to ensure it continues to offer brokers the service they need to complete loans in the shortest possible time. He will also develop the West One Loans valuer panel, and guarantee it covers all postcodes across theUK.
Duncan Kreeger, chairman of West One Loans said, “I pride myself that West One Loans does deals fast, and I am prepared to put my money where my mouth is. We’ve already got one experienced administrator for every person signing off a loan - which is about double the industry average. This is a further mark of our commitment. Oakes CPS have a lot of experience in assessing the real value of property and its saleability and with Ben visiting properties, he’ll be able to make sure the valuer is doing their job properly.”
Hubbard, who joined Oakes CPS in March 2007 and gained underwriting experience at Cheltenham & Gloucester, is currently employed by West One Loans on a case-by-case basis to either attend property they may be lending on or to carry out desktop valuations.
David Williams, the risk and recovery director of Oakes CPS said, “West One clearly appreciates the value of our services and Ben’s secondment will add a “belt and braces” approach to their already robust procedures.”