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commercial iconCommercial Mortgages

Flexible, High Value Finance for Commercial Property Ventures

At West One, our approach to commercial mortgages is founded on a thorough understanding of business requirements and property investment objectives.

We specialise in delivering bespoke financing solutions for commercial properties, offering a blend of efficiency, transparency, and expert knowledge to support your long-term growth and success.

Our experienced team is committed to delivering cases with speed and flexibility and applies an individual approach to underwriting. This ensures that we review each case on its own merits and support clients with smooth and secure purchases or re-mortgages.

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Commercial
Highlights

Highlights

  • 5-Year Fixed Rates from 7.69%
  • 2-Year Fixed Rates from 7.89%
  • Variable rates from +4.49% above BBR
  • LTV up to 75% of the Vacant Possession Market Value Figure
  • Owner Occupied & Investment options available 
  • Interest Only & Capital Repayment available
  • Up to age 80 at the end of the loan term (No max age if self-funding)
  • First Time Landlords Acceptable
  • No application fee
Semi-Commercial
Highlights

Highlights

  • 5-Year Fixed Rates from 7.09%
  • 2-Year Fixed Rates from 7.24%
  • Variable rates from +3.29% above BBR
  • LTV up to 75% of the Vacant Possession Market Value Figure
  • Owner Occupied & Investment options available 
  • Interest Only & Capital Repayment available
  • Up to age 80 at the end of the loan term (No max age if self-funding)
  • First Time Landlords Acceptable
  • No application fee
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Why West One?

  • Streamlined service with all communication responded to within 24hrs
  • One dedicated underwriter assigned to the case
  • Range of property types accepted
  • Owner-occupied & investor finance available through limited companies or individual names
  • Lending in England and Wales
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Key Product Features

  • Semi-commercial fixed rates starting from 7.09%
  • Commercial fixed rates starting from 7.69%
  • LTV up to 75% accepted
  • Day 1 lending available 
  • Loans up to £3million considered
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Let us help you get started

Talk to our expert bridging loans team today to discover how our diverse product range can solve your finance needs. 

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Introduce business to West One

If 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.

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Frequently Asked Questions

Criteria
What are the key features of West One Development Finance?
  • Residential led schemes (commercial aspect must be less than 35% of value)
  • PBSA schemes considered
  • Loans from £1,000,000–£30,000,000
  • Loans from 1830 months
  • Up to 65% of the Gross Development Value Funded
  • Up to 85% Loan to Cost Funded
  • Up to 70% of the Current Value Funded
  • 100% of Build Costs Funded
  • 100% of Professional Fees Funded
  • 100% of Rolled Up Interest and Lender Fees Funded
  • Project Costs are Funded in Arrears via Independent Monitoring Surveyor Reports
What kind of credit profiles do you accept from applicants?

We have separate product tiers to fit a wide array of borrowers – including clients with less than a perfect credit scores. We do not credit score, instead we  manually underwrite each second charge application taking into account each borrowers unique circumstances. As standard we disregard satisfied CCJ’s and Defaults as well as unsatisfied CCJ’s and Defaults under £500.  We can also help borrowers with missed unsecured payments as well as missed mortgage payments as well as borrowers looking to repay a current IVA and DMP.  We take an individual approach to lending without relying on credit scores.

Are applicants with adverse credit considered?
Yes, all applications are manually underwritten with no credit scoring. Evidence of mortgage conduct is required, especially for portfolio landlords. Criteria for arrears, defaults, and CCJs are plan-specific and detailed in the product guide.
What tenancy agreements are acceptable for Buy-to-Let properties?
Properties must be let on a standard AST. Corporate lets up to 60 months are considered. All tenancy agreements must be on a monthly rent basis. Properties let to family members are not acceptable.
Can first-time buyers apply for a Buy-to-Let mortgage?

Yes, but only if they are UK nationals, employed, or self-employed, aged at least 25, with a minimum income of £25,000 p.a. and proof of income. Maximum LTV is 75%, and additional documentation is required, including proof of funds and rental history.

What are the requirements for Limited Companies and LLPs?
Limited Companies and LLPs must be simple SPVs registered in England and Wales for property investment/management. Maximum of 4 directors/shareholders, and personal guarantees are required from those holding 20% or more shares. Complex structures may be considered by referral with a clear organisation chart.
Are ex-pat and non-UK nationals eligible for Buy-to-Let mortgages?
Ex-pats must have at least one existing BTL property in the UK and appoint a UK servicing agent. EEA nationals residing in the UK for at least 12 months are accepted with settled or pre-settled status. Non-EEA nationals with permanent rights to reside and at least 12 months’ UK residency may be considered, subject to enhanced due diligence.
Do you lend on HMO/MUB properties?
Yes, Houses in Multiple Occupation (HMO) and Multi Unit Blocks (MUB) are accepted. However for these types of properties, if they have more than 6 beds (HMO) or 6 units (MUB) referral will be required.
What are the particulars of bridging loans with West One?
This will be determined case by case. West One lends from £75k to £30m. Loans above £30m are considered upon referral. Interest rates start at 0.75% p/m. Max LTVs of up to 75% is possible. Loan periods are between 1-24 months. ERCs are not applicable in most cases. Upfront fees are applicable (please see Tariff of Charges).
What affordability criteria are applied to bridging loans?
We do not carry out employment checks on applicants. We also do not credit score applicants unless they provide permission to do so. As long as the client has a clear exit route, there are very few limitations to the type of borrower we will lend to.
Who can apply for a West One residential mortgage?
Applicants must be at least 21 years old, with a minimum income requirement of £15,000 for capital repayment or interest-only products. Both employed (minimum 3 months in role) and self-employed (minimum 1 or 2 years trading, depending on product) individuals are considered. Visa holders (Skilled Worker, Health & Care, or UK Ancestry) with over 24 months’ UK residency are also eligible. Applicants must go through a broker/intermediary to apply for a residential mortgage with West One.
What is the minimum and maximum loan term available?
West One offers mortgage terms from 5 to 40 years, with the maximum age at the end of the term being 85 for capital repayment and 75 for interest-only mortgages.
What are the minimum and maximum loan sizes?
The minimum loan size is £25,000. Maximum loan sizes are typically up to £1,500,000 (subject to LTV and product), with larger loans up to £2.5 million considered by referral. For unencumbered properties, the maximum loan is £500,000 and 75% LTV.
What is the maximum loan-to-value (LTV) available?
West One can offer up to 97.5% LTV. New build flats are capped at 85% LTV and new build houses up to 92.5% LTV.
What is the minimum income for interest only and what repayment strategies do you accept?
Applicants only require earned income of £15,000 from employment, self employment or private pension income.  We can lend up to 65% LTV for interest only customers and can accept plausible repayment strategies including downsizing.  Debt Consolidation is not permitted on an interest only basis. 
The Basics
What is Development Finance?
Development Finance is a form of short-term funding, typically provided over 1830 months to assist property developers with the purchase and construction costs of their next project.

These loans are normally used for ground-up construction, conversion or refurbishment of residential, commercial or semi-commercial properties.
What are second charge mortgages used for?
There are few limitations as to what a second charge loan can be taken out for. Many borrowers take out second charge loans for debt consolidation purposes or home renovations. However, they can be taken for almost any legal purpose such as paying for a deposit on a second property, gifting a deposit for children/grandchildren, paying for private schooling, paying for a wedding, repayment of tax bills, releasing funds for business purposes, and many more.
In what situation are second charge mortgages used?

Second charges are an effective alternative to remortgaging or further advance where this is not possible or not viable, We are also seeing an increase number of borrowers use second charges for capital raising where they are arranging a product transfer with their existing mortgage provider. 

Second charges do not affect the first charge mortgage, so it can help borrowers keep their first charge mortgage intact while releasing additional equity, for example where the borrower will incur early repayment charges, have to remortgage on to a higher rate of interest or may even be forced to sacrifice an interest only mortgage to secure further borrowing. Finally, second charge loans are typically much quicker to get approved than a remortgage or a further advance,  without the need for a physical valuation in many instances which means they are also used in situations where the speed of completion is vital.

What are bridging loans?
A bridging loan is a short-term, interest-only loan that provides extremely fast access to capital. Bridging finance is secured, meaning the borrower uses property (or land) as security to the lending institution. Bridging loans can be regulated, which applies when the loan is secured against a property that the borrower intends to live in or use as their primary residence; or unregulated, which is often used to bridge a payment shortfall on any other property that the borrower intends to repay at a later stage – whether through refinancing, sale or other means.

 

Who are bridging loans for?
There are a range of people who may have use for a bridging loan, including, but not limited to those who:
  • Need to complete quickly (such as when a deal becomes available with only a short window to purchase)
  • Are purchasing through a property auction to facilitate faster completion within the 28-day window
  • Are in a broken property chain. This can help sellers of one property to secure a new property before the sale of their property goes through (often regulated)
  • Want to buy uninhabitable property. Bridging lenders will base its lending on the property’s current condition, allowing the buyer to access the property and renovate to make it habitable (with a fully functioning bathroom, kitchen, plumbing, and heating)
  • Are looking to renovate or develop a current property with a view to sell it on or refinance after increasing its value
  • Have to get planning permission prior to securing development funding, bridging loans provide quick access to capital for planning permission
How long do bridging loans take to complete?
Typical timeframes for completion are around two weeks from enquiry (on average). However, we have completed bridging loans in as little as 2 days.
How can I find my West One Business Development Manager?

We operate with a team of regional Businesses Development Managers, who are supported by an office based team. to find your product support team visit www.westoneloans.co.uk/find-your-bdm

How can I send West One a Residential case?
Our residential mortgages and remortgages are only available through mortgage intermediaries. Members of our partner networks and clubs can quickly and easily submit a case directly to West One via our in-house broker portal. For Broker Registrations visit: www.westoneloans.co.uk/broker-registration
Does West One assist clients who need to remortgage?
Yes, we do, and we provide a fast-track re-mortgage service. This service  offers our customers access to a free legal service provided exclusively by our in house independent legal firm and allows borrowers to complete quickly once the mortgage offer has been issued.
Are second charge mortgages suitable for high street customers?
The vast majority of our borrowers a have mortgages with high street lenders who can benefit from a second charge. Where debt consolidation is part of the loan purpose, this is permitted up to our maximum LTV of 85%, the debts being repaid will not be taken into account for affordability and we will directly discharge all unsecured debts being repaid by BACS payment on the day of completion. 
Do applicants need to appoint a Solicitor?
The good news is that borrowers do not require legal representation to take out a second charge reducing time and cost for the borrower.  There may be instances where independent legal advice is required in limited circumstances. 
Terms
What terms apply on a second charge loan with West One?
We have products for loans between £10k£1m in size (higher on referral), on a loan term between 5 and 40 years. We allow borrowers to finish their loan term by their 85th birthday for capital and interest mortgages, and loan terms up to age 75 for interest only borrowers.
What is the minimum and maximum Buy-to-Let loan sizes and terms?
The minimum net Buy-to-Let mortgage size is £50,000. The maximum gross loan size is £3m, although higher loans can be considered on referral. Please refer to product guide for maximum loan sizes on our specialist and complex ranges. Mortgage terms range from 5 to 35 years.
What credit history requirments must applicants meet?

Applicants with a wide range of adverse credit can be considered. West One does not have a minimum credit score meaning we can help customers who may have failed a credit score with other lenders., We offer a range of products for different credit profiles to help borrowers who may have an element of adverse credit. We can help borrowers who may have incurred recent or historic CCJ’s and Defaults as well as disregarding smaller CCJ’s and defaults under £500. Borrowers may also be eligible for our mortgage products if they have missed payments on unsecured credit and historical or more recent missed payments related to existing or previous mortgages. We can also help borrowers with discharged DMP’s, and our Near Prime plan is available for borrowers looking to repay a current DMP. Bankruptcies and IVAs must have been discharged for at least 72 months.

Are first-time buyers and those with gifted deposits accepted?

Yes, first-time buyers are accepted, including those with gifted deposits. The total value of all financial incentives, including builder deposits, can’t exceed 5% of the purchase price. Non-monetary incentives, for example, white goods, upgrades etc are acceptable.

LTV calculations for New Build properties will be based on the lower of the open market value or purchase price. Where this includes a gifted builder deposits, we will deduct this from the purchase price for LTV purpose.

Can you offer a second charge for borrowers without a current mortgage or borrowers with an equity release mortgage?
We can only offer second charges to borrowers who have a traditional first charge mortgage, but we can offer a remortgage for borrowers with an unencumbered property.  We cannot offer second charges for borrowers with non standard mortgages such as equity release or retirement interest only mortgages. 
Do you offer second charges for landlords with an existing Buy-to-Let mortgage?
Yes we can offer loans up to £350,000 (£500,000) by referral for individual landlords up to a maximum exposure of 3 Buy-to-Let properties up to £750,000.  We can help expats, borrowers with a minimum 2 years residency in the UK on a skilled worker visa, health and care worker and ancestry visas. We cannot currently offer second charge Buy-to-Let mortgages for limited company applications or lend against HMO properties.
Application Process
How do I apply for a second charge loan with West One?

Our products are exclusively available through a limited panel of Master Broker partners who work with mortgage intermediaries to provide a varied range of submission routes for second charge mortgage applications.

For new cases - Please contact us for the most appropriate submission route if you need help placing a case through one of our packaging partners. 

For queries with existing cases - Please contact your packaging partner who will be able to update you on the status of the application.

What is the process once the application has been sent?
Once we receive the application form, we will instruct solicitors and the valuation simultaneously. Once the valuation report and legal due diligence has been completed, we will then issue a Facility Letter (or Mortgage Offer) alongside a suite of legal documents for the borrower to sign. Funds will then be sent to the solicitor for completion.
Fees, Repayments & Commission
What fees are associated with West One residential mortgages?
 There is a standard application fee of £199. Product fees of £1,495 apply (product fee not applicable on fee assist products) For Fee Assist products, the application fee is refundable within 30 days of completion. Legal and valuation fees may also apply, but fast-track remortgage legal services are available with no legal fees.