Bridging Working with West One: Non regulated bridging

Non Regulated bridging loans

Fast, uncomplicated finance.

Our non-regulated loans have been developed to suit a wide variety of borrowing needs and are a great solution for:

Refinancing
Property purchases
Auction purchases
Property refurbishment
Acquiring land
Acquiring semi-commercial/commercial assets
Buy-to-let, HMO or holiday let purchases
Development exit

Our unique approach to risk and credit allows flexibility for borrowers. From the straightforward to the complex, we treat each case individually and tailor a solution to suit the client.

Range Criteria

Range

Features

Criteria

Auction

Where purchasing a fully residential property at auction

Max LTV:	75%
Interest Rate:	from 0.60%
Charge type:	1st
Min loan size	£75,000
Location:	England, Scotland, Wales
Max term:	18 months
Interest type:	Retained or serviced

Proof of funds/evidence of deposit required
Investment properties only
Minimum age – 18. No maximum age limit.
Minimum term – 1 month
Scotland – mainland only
Serviced interest subject to an affordability assessment.

Purchase

Where purchasing a residential investment property, any works required are funded by the borrower.

Max LTV:	75%
Rates:	from 0.60%
Charge type:	1st
Location:	England, Scotland, Wales
Min loan size	£75,000
Term:	12 months
Interest type:	Retained or serviced

Proof of funds/evidence of deposit required
Investment properties only
Minimum age – 18. No maximum age limit
Minimum term – 1 month
Scotland – mainland only
Serviced interest subject to an affordability assessment.

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.

Max LTV:	70% (Day 1 LTV) 65% (LTGDV)
Rates:	from 0.80%
Charge type:	1st
Location:	England, Wales
Term:	18 months
Interest type:	Retained

Monitoring surveyor to be used and approval required prior to any drawdowns
Investment properties only
Up to 100% of build costs can be funded, in arrears.
Experience of similar projects preferable.
Minimum profit margin of 15%
Minimum age – 18. No maximum age limit.
Minimum loan size - £150k
Minimum term – 1 month

HMO / BTL / PD Conversions

Max LTV:	70% (Day 1 LTV) 65% (LTGDV)
Rates:	from 0.70%
Charge type:	1st
Location:	England, Scotland, Wales
Term:	18 months
Interest type:	Retained

No experience required.
Typically no monitoring surveyor, but inspections prior to further drawdowns required.
Up to 100% build costs can be funded, in arrears.
All appropriate licenses/permissions required.
Extensions permitted where current internal square footage does not increase by more than 50%
Ideal for extensions or loft conversions under Permitted Development
Works to not exceed 15% of GDV.
Minimum age – 18. No maximum age limit
Minimum loan size - £150k
Minimum term – 1 month
Scotland – mainland only

Cosmetic refurbishment

Max LTV:	70% (Day 1 LTV)
Rates:	from 0.65%
Charge type:	1st/2nd
Location:	England, Scotland, Wales
Term:	12 months
Interest type:	Retained

Works requiring planning permission or approval not allowed.
No structural works permitted
Typically no Monitoring Surveyor, but inspections prior to further drawdowns required
Minimum age – 18. No maximum age limit
Minimum loan size - £150k
Minimum term – 1 month
Scotland – mainland only

Development Exit

Funding to bridge the gap between completion of the development and sales being achieved.

Max LTV:	75%
Rates:	from 0.60%
Charge type:	1st
Location:	England, Scotland, Wales
Term:	12 months
Interest type:	Retained

Practical Completion to have been achieved is preferable, although minor works outstanding can be considered
Final certificate from build control and warranty provider required.
Sales proceeds can be distributed, subject to LTV / credit committee approval.
Minimum age – 18. No maximum age limit.
Minimum loan size - £150k
Minimum term – 1 month

Refinance

For short term cash flow needs or refinances of existing charges.

Max LTV:	65% (1st charge) 60% (2nd charge)
Rates:	from 0.75%
Charge type:	1st/2nd
Location:	England, Scotland, Wales
Term:	18 months
Interest type:	Retained or serviced

Where funds required for a lease extension, completion is to happen simultaneously
Refinancing existing bridging loans considered by referral
Owner-occupied and investment properties accepted
Minimum age – 18. No maximum age limit
Minimum loan size - £75k
Minimum term – 1 month
Scotland – mainland only
Serviced interest subject to affordability assessment.

Range

Features

Criteria

Purchase

Purchasing a commercial or semi-commercial asset.

Max LTV:	65%
Rates:	from 0.70% (semi-commercial) from 0.85% (commercial)
Charge type:	1st
Location:	England, Scotland, Wales
Term:	18 months
Interest type:	Retained or serviced

Proof of funds/evidence of deposit required
For semi-commercial assets, the residential element must comprise less than 50% of the square footage
Minimum age is 18. No maximum age limit
Minimum loan size - £75k
Minimum term is 1 month
Scotland - mainland only
Places of worship, football clubs or operating care homes are generally not acceptable
Vacant possession valuation used on all operating businesses

Refinance

For short term cash flow or refinances of existing charges

Max LTV:	60%
Rates:	from 0.70% (semi-commercial) from 0.85% (commercial)
Charge type:	1st/2nd
Location:	England, Scotland, Wales
Term:	18 months
Interest type:	Retained or serviced

For semi-commercial assets, the residential elements must not comprise more than 50% of the total square footage
Minimum age – 18. No maximum age limit
Minimum loan size - £75k
Minimum term – 1 month
Scotland – mainland only
Serviced interest subject to strict affordability assessment
Places of worship, football clubs or operating care homes are generally not acceptable.
Vacant possession valuation used on all operating businesses.

Range

Features

Criteria

Purchase

Purchasing a plot of land.

Max LTV:	65% (with planning) 50% (without planning)
Rates:	from 0.80%
Charge type:	1st
Location:	England, Scotland, Wales
Term:	18 months
Interest type:	Retained or serviced

Proof of funds/evidence of deposit required
Minimum age – 18. No maximum age limit
Minimum loan size - £75k
Minimum term – 1 month
Scotland – mainland only
Serviced interest subject to an affordability assessment.
Where planning has been granted, relevant planning application reference must be provided.

Refinance

For short term cash flow or refinances of existing charges

Max LTV:	60% (with planning) 50% (without planning)
Rates:	from 0.85%
Charge type:	1st
Location:	England, Scotland, Wales
Max Term:	18 months
Interest type:	Retained or serviced

Minimum age – 18. No maximum age limit
Minimum loan size - £75k
Minimum term – 1 month
Scotland – mainland only
Serviced interest subject to a strict affordability assessment
Where planning has been granted, relevant planning application reference must be provided

BRIDGING LOANS

Resources and Criteria

DEVELOPMENT FINANCE

Resources and Criteria

BUY-TO-LET MORTGAGES

Resources and Criteria

SECOND CHARGE MORTGAGES

Resources and Criteria

RESIDENTIAL MORTGAGES

Resources and Criteria

Non Regulated bridging loans

Fast, uncomplicated finance.

Range Criteria

Development Lite - funding structural works and ground-up developments.

HMO / BTL / PD Conversions

Cosmetic refurbishment

Speak to one of our bridging experts today