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Customer SiteOur extensive range of bridging loans have been developed to provide finance for a wide range of borrower needs. As a leading bridging finance provider since 2007, the West One team have an industry reputation for providing a personalised approach to lending resulting in an extensive portfolio of bridging loans. Our highly experienced underwriting team provide the speed and flexibility needed to help get your clients’ projects safely over the line when the timing is critical.
Bridging loans are short term finance, normally lasting up to 12 months and are a great solution for borrowers who need finance temporarily and quickly. They are ideal for refinancing, auction purchases, property refurbishment and acquiring land or semi-commercial/commercial assets.
Our loans are available as first or second charge and have no early repayment charges.
Talk to our expert bridging loans team today to discover how our diverse product range can solve your finance needs.
Ideal for purchases, refurbishments or refinances of residential properties that are either used as a principle primary residence or for investment purposes.
Learn MoreShort term finance for purchases and refinances of both commercial and semi-commercial properties.
Learn MoreFinance for purchases and refinances of land both with and without planning permission.
Learn MoreRange | Features | Criteria | ||||||||||||||||||||||||||||||||||||||||||||||
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Regulated Regulated bridging loan secured against a borrower's main residence. |
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Auction Where purchasing a fully residential property at auction. |
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Purchase Where purchasing a residential investment property, any works required are funded by the borrower. |
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Refurb / Conversion Funding structural works, ground-up developments and cosmetic refurb as well as HMO, BTL and PD conversion. |
Development Lite - funding structural works and ground-up developments.
HMO / BTL / PD Conversions
Cosmetic refurbishment
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Development Exit Funding to bridge the gap between completion of the development and sales being achieved. |
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Refinance For short term cash flow needs or refinances of existing charges. |
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Range | Features | Criteria | ||||||||||||
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Purchase Purchasing a commercial or semi-commercial asset. |
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Refinance For short term cash flow or refinances of existing charges |
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Purchase Purchasing a plot of land. |
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Refinance For short term cash flow or refinances of existing charges |
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A bridging loan is a short-term interest-only loan available to those that need immediate access to capital. Usually used for a property purchase, it is a loan to ‘bridge’ the gap while other finance (such as a mortgage) is secured by the borrower. Bridging finance is secured, meaning the borrower uses property (or land) as security to the lending institution.
Any individual or limited company can apply for a bridging loan.
Bridging loans are mainly used by clients who need quick, short-term capital to fund a property purchase. They include those who:
A ‘first charge’ is the primary mortgage or loan secured against a property. This takes precedence over all other finance secured against it. However, if there is sufficient equity in the property, a ‘second charge’ loan could be secured against it.
No. We lend on residential, semi-commercial and commercial properties and land. The construction, type or use for the property doesn’t matter either.
No.
A credit check is not carried out by West One unless we are given permission to do so by your client.
Since bridging loans are for the short-term, each client must have a plan in place to pay off the loan. This is known as an ‘exit route’. A viable exit route is a must on all bridging loan applications.
As a short-term finance solution, a regulated bridging loan is generally taken out for up to one year. However, it is not uncommon for some unregulated bridging loans to last for up to two years.
Typically, we lend from between £30k to £2.5m for a bridging loan, however we have vast experience in lending multi-million pound sums on referral.
Our experience means that in most cases we will be able to confirm almost immediately whether your client’s application is likely to be successful.
Once we receive the bridging finance application form (and the certified identification documents), we will issue indicative terms, which need to be signed by the client. We will then book a valuation. Once the valuation report is completed, we will instruct our solicitor to carry out all due diligence and provide a report. Funds will then be sent to the solicitor for completion.
From the initial enquiry through to completion, our average turnaround time is just two weeks.
Each case is reviewed individually. However, if all the paperwork is complete then a client could receive funds in as little as 48 hours.
No. Although valuation fees will apply and other fees will be deducted from the loan.
This depends on the individual circumstances of the borrower. However, the interest rate ranges from between 0.55% to 1.5% for each month of the loan, and the borrowing is arranged on an interest-only basis.
Our long-standing relationship with lenders and our high loan conversion rates mean we are able to offer intermediaries some of the best commission rates on the market. Commission is typically around 1% of the loan amount.
Yes. Once the borrower secures longer term funding, or another exit – such as sale of property - the bridging loan can be paid early without penalty in most cases.
Speed and flexibility are often the key drivers behind the decision to use bridging finance. At West One our team are experts at navigating the complexities of...
Read moreBridging loans by their very nature are not one size fits all finance, they have multiple use cases and sometimes are the perfect solution for a cash flow...
Read moreThe specialist lending market can be a significant asset to a property professional with different types of finance available over the course of a development...
Read moreIf you would like to discuss a case, register as an introducer or learn more about what West One has to offer, simply complete the short enquiry form below and a member of our broker support team will get in touch.
Head of Sales, Bridging & Development Finance
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We hope you find the following resources useful. Please contact us if you require anything specific.
Designed for property developers requiring fast, efficient finance for residential-led developments.
Learn MoreFirst charge buy-to-let mortgages offering flexibility to both amateur and professional landlords.
Learn MoreA comprehensive range of second charge mortgage products available for both residential and buy-to-let properties
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