** Information in this guide is whole of market information to be used for education purposes. The data listed is not directly representative of West One's product offering.
These are Bridging Loans aimed specifically at the buy-to-let market. The fixed-term loan is used to secure a property that you intend to rent out but don’t have a basic mortgage or deposit organised.
You can use them for either commercial or residential properties. The exit strategy would be to refinance onto a conventional Buy-to-let mortgage, and renting the property out either fully or in part.
The loan would be based on being able to achieve 100% rental coverage. This means that your potential rental income should be equal to your payments.
Can be used when you’re buying a property – whether commercial, residential or mixed – to rent in the future but when you can’t initially afford the deposit or need to move fast.
As the buy-to-let market is a competitive one, moving quickly can be key to securing the right property before other investors can. This can sometimes mean moving before you have a mortgage or deposit in place. In these situations, a Bridge-to-Let loan could be useful.
They can also be useful for buying properties at auctions, properties that need work to add value or ones you need to move quickly on.