West One Loans, one of the UK’s top three bridging lenders, is to reward brokers by returning 100% of arrangement fees on any loan up to £500,000.
The offer to return arrangement fee(s) will begin with immediate effect and will apply to loans of 40% or less of the OMV (Open Market Value) but must not exceed 50% of the FSV (Forced Sale Value). The loans must also be for properties within a major UK city.
The offer has been launched in order to reward brokers who place their clients bridging loans with West One Loans but is also part of a continued commitment to providing some of the most competitive offers in the bridging market.
The bridging sector has returned to the forefront as a viable source of funding as clients and brokers have had to seek out alternative financing solutions due to the lack of funding from high street lenders. The West One Loans team have a great deal of experience within the mortgage sector and as such, fully understand the benefits to brokers of the new announcement.
Commenting on the new offer Duncan Kreeger, Chairman of West One Loans said,
“We are continually looking for innovative ways in which we can improve our offering to meet brokers’ requirements. This latest offer comes as a direct response to the needs expressed by them and is part of a continued effort to identify ways in which we can give something back to our brokers.
“Having worked in the financial services industry for many years, we fully understand the issues they have to deal with every day and are glad to be able to give back 100% of our arrangement fee on loans that may traditionally offer less financial potential.”