The 20-month term facility enabled the client to complete the purchase of a site and to develop a 15-house scheme with an expected value of £11.6m.

As the borrower had less than two weeks to complete on the land purchase, speed and teamwork were essential in this case.

West One worked closely with a trusted valuer and monitoring surveyor, who immediately inspected the site and quickly produced the valuation report. 

Following this, the lender’s underwriters worked over the weekend with the borrower and solicitor to make sure all documents were signed and ready for completion day.

•   Property investors face 'huge risk' of stranded assets if they fail to decarbonise
•   West One ups development loan limit to £15m
•   Feltham Properties secures £14.2m development loan from Paragon

Guy Murray, head of development finance at West One (pictured above), said: “This was a case of working together and acting fast to get everything we needed from all the professionals involved. 

“Due to our agile working, we were able to present the deal to our credit department and get a quick approval to complete the loan within seven days from application.

“When we are up against barriers such as time constraints in this instance, we will always go out of our way to find solutions. 

“This was a prime example of teamwork both within West One and with our network of external partners.”