West One Bridging business performance up by a third on last year
West One Loans issued a total of £2.3bn sets of terms in the first half of 2021 – up 29% on the same period last year.
The lender has seen gross completions across its short-term bridging and development offering increase 32% from H1 2020, to £485m for 2021.
Service levels have been improved too with the average turnaround time for loans to complete currently some 25% quicker than the industry average of 40 days or over.
Nick Jones, sales director for Bridging at West One said: “It has certainly been a strong period of growth for the business and really sets the pace for the second half of the year, as we expect to build on this success.
“Clearly there is high demand in the market. But the level of customer service, quality of the product and quick turnaround time from the team at West One, has meant we’ve been able to maximise those opportunities.
“Our long-standing and strong relationships with our broker and intermediary network have also been a key factor. When you’re working with quality partners day-in day-out, it makes the whole process more efficient and helps bring down the turnaround times to industry-leading levels.
“It also demonstrates the strength of the bridging finance sector right now, as increasingly people are looking to specialist lenders to achieve their property-owning aspirations.”
Myles Williams, CEO at broker First 4 Bridging, added: “West One’s positioning in the marketplace with its broad product offering, coupled with the quality and speed of service makes them a ‘go to’ lender for time sensitive and larger loan size applications. This company knows short-term lending.”