West One launches bridging tracker product linked to Bank of England base rate
West One Loans has launched a new bridging product range with a variable interest rate linked to the Bank of England base rate.
The product is available at loan to values up to 70% and is offered across all of West One’s existing bridging product categories, including regulated and unregulated business.
Pricing starts from 0.70% for residential and 0.85% for commercial, plus the Bank of England base rate.
The tracker products will sit alongside West One’s existing fixed rate bridging products which already cater for a comprehensive range of lending situations, including regulated and unregulated cases, residential and commercial securities, as well as the purchase and refinance of land.
Thomas Cantor, Head of Bridging Finance, said: “Although interest rates have been on the rise recently, it is possible that rates will begin to settle – or even fall – in due course.
“This means fixing rates for shorter-term projects may not always be the better option.
“By offering this new lower tracker rate alongside our fixed rate range, we are giving our intermediaries and their clients access to a broad choice of competitively priced, funding options.
“In addition to the extra choice on offer, our brokers and applicants will continue to benefit from West One’s speed, flexible underwriting capabilities, and specialist credit expertise, which is why brokers keep coming back to us.”