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Building lending relationships - Multi product experience

With over 10 years' specialist lending experience, West One Loans offers borrowers access to a broad range of products delivered through expert service, focused on flexibility, reliability, and speed.

We specialise in multi-product financing packages that allow our clients to access a seamless funding to support their property investment activities.

Development Finance:

  • Loan Value
    Day One - £1,012,943
    Full facility - £2,415,110
  • Property Value
    Day One - £1,450,000
    GDV - £3,835,000
  • LTV
    Day One - 70%
    LTGDV - 63%
  • Rate 
    7.55% p/a  

  • Loan term
    18 months 

The client was introduced to West One in November 2018 as the client was looking to acquire a site which, at the time, comprised a single dwelling. Planning permission had been granted in August 2018 for demolition of the dwelling and the erection of one 3 storey block containing 9 flats. The funds were used for the purchase of the site as well as the build.

Bridging Finance:

  • Loan Value
    Day One - £2,489,500
  • Property Value
    Day One - £3,830,000
  • LTV 
    Day One - 65%
  • Rate
    10.2% p/a 
  • Term
    12 months

In July 2020 the borrower refinanced the Development Finance loan onto a bridge. The bridging loan enabled the client to re-lever the property, releasing a small sum to complete works, and financing the period to sell down the units.

Buy-to-Let:

  • Loan Value
    Day One - £422,688
  • Property Value
    Day One - £575,000
  • LTV
    Day One - 76%
  • Rate 
    3.69% p/a
  • Term
    25 years

Having worked with the West One team for 3 years across Development and Bridging, the client then had a new requirement for a buy-to-let mortgage. A quick introduction to our Buy-to-Let team gave the client seamless access to further funding from West One in July 2021.
Building lending relationships - Multi product experience

The Client 

The client is an experienced property developer having completed numerous projects for large multi-national firms over a period of 20 years.

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The Situation

The client took out a development loan initially to fund construction, followed by a bridging loan to finance the sales period. As a result of West One's service and professionalism, the client then also obtained a buy-to-let loan from us on a separate property.

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The Solution

This is where West One excel, the scale of our operational capacity and knowledge are second to none. This, coupled with our internal team and proprietary technology, allows a seamless transition between lending products with the switch from Development Finance to a Bridge. All areas of the business from sales, operations and underwriting came together across the duration of this case. When the client needed to refinance the development loan onto a bridge in July 2020, the combined knowledge of the team ensured the case was concluded with speed in just 20 days from application to completion despite being in the middle of the pandemic.

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The Benefits

We specialise in creating integrated lending solutions across the property investment and development lifecycle, encompassing acquisition, planning, development and sale. West One has a range of products that give our customers a fast transition from one type of finance to another. Using just one lender for all finance needs is cost-saving, time-saving, and gives a more streamlined service. Unlike traditional lenders, we approach complex cases entirely hands on, taking a pragmatic view to ensure success. The key element is having a can-do attitude to assist the client through to completion. 

The Result

The team were able to support the borrower effectively through the property life cycle, reduce the time taken on applications and legal and develop a strong relationship for future lending. Our team of experts worked together ensuring a quick and stress free move from across our product range. This gave the client peace of mind whilst also avoiding delays and additional costs that can occur when using different lenders for different phases of a project.

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