West One Loans had a record month for originations in July, new figures released today have revealed.
Despite challenging conditions, the specialist lender originated £190m – the most it has achieved in a single month in its history – last month. This is up again on the last record set in March of 164m.
The total figure is made up of buy-to-let (BTL), second charge, development finance, bridging and residential lending.
July’s lending figures mean West One has now grown assets under management to a record £2bn.
Long-term lending products (BTL, residential and second charge) reached £1bn under management for the first time.
The news comes as West One announces a series of new appointments in order to fuel its ambitious growth targets.
Matt Watson has been promoted to head of sales for bridging & buy-to-let in the South, and Jez Quinn has been promoted to head of sales for bridging & buy-to-let in the North.
West One has also hired two new regional account managers for bridging & buy-to-let: Ashley Bailey to cover the North region, and Ashleigh Blackbeard to cover the South West.
Danny Waters, CEO of Enra Specialist Finance, said: “I am very pleased to be able to report record lending figures this month and a sustained success through the first half of the year, despite ongoing market volatility.
“West One remains extremely well-capitalised, well-funded, and committed to the specialist lending sector.
“Our recent performance demonstrates just how robust we are. I believe there is still great opportunity in the market for well-funded specialist lenders despite the current environment.
“Demand for lending remains high across all elements of our proposition especially in the short-term space.”
He concluded: “We believe we will see our market share grow as we continue to offer a consistent, reliable source of specialist funding to our broker partners through changing market conditions.”
