Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

West One Launches Bridging Loan for Straightforward Residential Cases

Specialist lender West One has launched a limited-edition bridging loan product aimed at straightforward, low-complexity residential cases. The new loan is available for first charge residential bridging loans only, with amounts ranging from £150,000 to £1 million.

According to West One, the product offers rates starting from 0.7% on regulated cases and 0.75% on unregulated cases. The lender has specified that the loan is not available for rebridging cases or for properties requiring works beyond light cosmetic improvements.

The bridging loan is available exclusively to UK residents and nationals who have a clean credit profile. West One stated that the product is designed to cater to cases that are simple and do not involve complex circumstances.

West One Loans is described as one of the UK’s largest non-bank specialist property lenders, with offices in Watford and Manchester and over £2.1 billion in assets under management. The lender targets individuals, landlords, and businesses whose needs are not met by traditional high street banks.

Recent changes at West One include an increase in lending limits on its core product, now offering up to 5.5 times income for purchases and remortgages across all product credit tiers, up from five times income previously.

This new bridging loan product may be of interest to letting agents and inventory clerks working with clients seeking straightforward residential bridging finance solutions.