Due to the short-term nature of a bridging loan, if something impacts a borrower’s initial exit strategy, it can be challenging to find another way to repay the loan before its term expires.
However, if the broker can find a lender that can act quickly and is experienced dealing with complex cases, the borrower can pay off the existing loan before it expires and avoid having to pay any expensive penalties.
In this case, the borrower was able to do just that thanks to the West One’s bridging team’s fast service and attention to detail ensuring there were no delays.
This demonstrates West One’s flexibility, hands-on approach, and experience in working on complex deals and getting them over the line. Although there wasn’t a great deal of time to work on the case before its term ended, the team were still able to complete the loan before with time to spare.