Case Study: Last minute legal issue resolved with first class underwriting to save a renovation deal

In some circumstances even the simplest deals can have issues at the 11th hour, bridging finance by its nature is a great way to secure finance quickly for large projects so its critical all parties involved work together. In this instance, last minute legal issues nearly caused the deal to collapse, luckily West One's expert underwriting saved the day.

  • Product
    Bridging Loans
  • Loan value
  • LTV
  • Rate
  • Loan term 
    12 months

The Client

A teacher who also has a portfolio of 7 buy-to-let properties.

The borrower was purchasing a new BTL for her expanding portfolio, this was being funded by another lender. The property she was buying was in poor condition and our loan was to carry out the relevant refurbishment works. On the day of completion, a legal error was brought to our attention, meaning that we couldn’t charge the security we had planned to, leaving the deal in crisis. The borrower urgently needed a solution as she had builders ready to start the work immediately, this issue meant that she could lose the whole deal.

Quick thinking from our underwriter ultimately saved this deal. The situation required an urgent resolution, the borrower was understandably stressed that she would lose the deal and tensions were high. Within a matter of minutes our team reviewed the client’s portfolio and decided to take an equitable charge over another security she owned (an 8 bed HMO). Speed was critical so on the same day we used an AVM, communicated with all parties of the new conditions, issued relevant legals and worked with the client to secure relevant supplemental documents. Our exit strategy was adjusted accordingly, and we were able to complete on the new security within a matter of days.

Experience and quick thinking saved this deal. Our commitment to manual underwriting ensures no deal is too complex and we are always able to think of a solution, our underwriters have often seen issues like this before and know how to react. Working with an established lender will ensure that even in critical conditions, the outcome can often be positive.


The broker was delighted with the outcome and heavily praised the case underwriter and West One approach to underwriting as a whole. He was extremely happy with the speed and willingness to find a solution. This has certainly strengthened the relationship between broker and lender.