West One grows loan book to £200m
05 May, 2015
category: Commercial, Residential, Secured
West One’s loan book reached £200m after the provider completed around £80m worth of loans in the first quarter of 2015.
The lender added £50m to its book in the last four months, while it completed £30m worth of deals in February alone.
Stephen Wasserman, its director, said: “The market is continuing to thrive as high street lenders leave borrowers hanging.
“But while the sector is looking healthy – the industry is issuing nearly £50m of short-term finance every week at the moment
We have also been expanding and taking on a number of new hires to help fuel our growth organically. It’s been a fantastic four months.”
Last month West One’s bridging Index found that for the bridging industry as a whole annual lending has reached £2.5bn.
Wasserman added: “The stock of the bridging sector continues to rise and both brokers and borrowers are more alert to the possibilities that our industry has to offer.”