
The client was an individual intending to complete the transaction through a limited company.
The broker was approached by their client, who had purchased a property at auction. Auction purchases often require speed, as the purchase needs to be completed within a set time, often 30 days.
The broker had only recently diversified their business to offer bridging solutions, and with the West One team already having a good relationship with the broker, the broker knew they could rely on West One.
The clients needed a residential, non-regulated bridging loan for the purchase of a property at auction. Arrangement to meet the auction timeline, and a smooth and efficient transaction was needed.
On speaking to their West One Business development manager, and speed being of the essence, the criteria of the deal fit the new West One, one-week bridge proposition.
This case was completed through the newly launched fast-track product, which incorporated an AVM, dual representation for legal matters and title insurance. The borrower incurred no upfront costs for the transaction which avoided further costs for the borrower, making the proposition even more attractive.
Funds were ready to go on day three, but being guided by the borrower they requested a little more time before they received the funds, meaning application to completion was on day nine.
West One demonstrated a swift and efficient approach through using the fast-track bridging product, leveraging AVM, dual rep legal, and title insurance. This allowed the client to move quickly without any upfront costs, all while staying flexible to their timing needs.
The combination of fast-track bridging allowed the team to execute much quicker and understand the requirements of the case. Having a good relationship with the broker, we supported them through their very first bridging case. With the case requiring swift completion, with clear communication, the process was as smooth as possible.
“This was my first ever bridge and, I have to say, West One were brilliant. The process was extremely easy and slick. The case completed much quicker than I was expecting, which left my client very happy. West One bridging, and their one-week product proposition is an extremely useful tool to have in my armoury for the next time I have a client that needs access to capital in such a short timeframe.”