West One has completed a £15.75m bridging loan in 11 working days, supporting an international client to buy a super-prime eight-bedroom house in Chelsea.
The property, arranged over eight floors and valued at £22.5m, had already been exchanged on when the client approached West One through their broker.
With a fixed completion deadline of 30th September and just 11 working days to deliver, West One brought together its senior leadership and specialist teams to manage the deal.
The borrower, a foreign national businessman, travelled to the UK at short notice for a security and client meeting at West One’s head office.
The valuation was carried out on 18th September and completed by 23rd September.
West One’s legal team worked closely with the client’s solicitors to finalise documents by 26th September, allowing time for final checks and funds release before the completion date.
The facility was agreed on a 12-month term at 70% loan-to-value (LTV).
Tom Cantor, co-head of short-term finance at West One, said: “This deal showcases what sets West One apart in the bridging market.
“We don’t just compete on rate and LTV, we deliver on our commitments with precision and speed.
“Our ability to complete a loan of this magnitude in two weeks speaks to the depth of our resources and the quality of our team.”
