Below is an update from West One, the Bridging, BTL, Commercial, and Seconds Mortgage lender, that you can access via our specialist mortgage team. Contact our team today for more information.
Announcement
A £4.75m bridge with an exit linked to commercial performance
A complex £4.75m bridging case completed in 29 days
One recent bridging loan we completed is a strong example of why flexibility matters when it comes to short-term finance. The key elements of this case included:
- Urgency
- Individual lending for business purposes
- A fractured property ownership structure
- A commercial warehouse asset with dated internal configuration
- An exit that relies on the performance of the company
At surface level, this deal may have looked challenging, but not to West One.
We were able to:
- Ascertain a Declaration of Trust
- Evidence the business’s long-standing profitability
- Assess the strength of the underlying asset
- Structure funds strictly for defined business purposes
- Assess appetite for a future commercial mortgage refinance if required
We structured a £4.75m facility at 54% LTV over 18 months (12 months retained) and completed in just 29 days, despite the complexity involved.
This is a clear example of what can be achieved with a team that places individual underwriting at its core and approaches each element of a deal with a balanced, commercial view.
Let’s show how a flexible approach to finance can turn a challenging situation into a workable solution for your client.