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Rise and rise of bridging is way forward for property

3/3/2017 12:00:00 AM   0 Comments   bridging loans, buy to let

One of the biggest challenges for any business - especially in the early days - is sourcing funds. Even if you have a team of experienced professionals, without an established track record as a company finding investors willing to back you isnt always straightforward. That is especially true in a capital intensive industry like ours where you need access to substantial funds in order to lend to property developers and investors and build a reputation as a consistent source of finance for these customers.

Today, West One is one of the largest providers of short-term bridging finance in the UK, lending in excess of £50m a month. We have a loan book of £350m and have lent well over £1bn to date, with many investors and multiple funding lines to deliver that finance to our customers.

But taking a look back to 2007, when we started out, it was a different picture. Our first investors, who funded our earliest bridging loans, were people we knew personally. They were willing to support us because they knew us and trusted us.

Since then, weve grown the business rapidly to deliver that £50m monthly lending. This has only been possible thanks to the support of our investors and the growth of our investor base over the years.

Their continued and growing support also reflects the success weve had as a business and how the bridging sector has grown and matured since the financial crash.

Stephen Wasserman   http://www.propertyweek.com/opinion/rise-and-rise-of-bridging-is-way-forward-for-property/5087955.article
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