With a growing number of property investors using short-term bridging finance to buy property, June was a landmark for many specialist lenders, including West One Loans, which smashed its previous monthly record of £53m of bridging loans, to lend £62m last month to finance a range of deals, including commercial and residential property acquisitions.
Total loans under management by West One Loans now exceeds £400m, illustrating the fact that more property investors are increasingly using bridging finance as a viable financial tool to provide real time funding to plug any gap before longer term finance can be put in place.
West One, which recently announced that it will be launching a second charge term-lending mortgage range in Q3 this year, as part of broadening their reach into other areas of the specialist lending arena, completed more than 70 transactions last month.
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment