January 20, 2011
West One Loans, one of the country’s largest privately funded bridging finance companies, today announces the completion of a £275,000 bridging loan inside 24 hours, the fastest in their history.
The application for bridging finance was made to West One Loans and was agreed following a mortgage offer that was unexpectedly withdrawn by Santander. The unexpected withdrawal of the mortgage offer placed the client in a difficult race against time to find and agree alternative funding in order to complete the property deal.
West One Loans approved the application and sourced the necessary funding, using their signature funding model of private investment, within 24 hours and enabled the property deal to complete on time, much to the relief and delight of the client.
Duncan Kreeger, founding partner of West One Loans comments,
“There was no way Santander could complete the deal in time and we were delighted to step in at the last minute and facilitate the loan in order to enable completion to take place on time. The speed at which we were able to process the funding is a perfect example of how fast we can source and lend significant funds. This has proved to be a real asset for borrowers and intermediaries struggling to source finance in the current economic climate.”
Mortgage broker Jane Baccus from More than a Mortgage added,
“The speed with which West One Loans acted for us was fantastic. Our client was in a very stressful situation and it was terrific to work with people who understood the clients position and were so proactive in agreeing the bridging finance.”