West One announces 24 hour completion

Yuan Phoon

February 27, 2012

The deal was completed with specialist distributor Enterprise Finance.

The lender said the borrower needed rapid access to finance after a mortgage deal was unexpectedly withdrawn.

Duncan Kreeger, chairman of West One Loans, said: “We don’t subsume brokers in laborious bureaucratic procedures and streams of red tape. We apply a commonsense approach and ‘get-it-done’ mentality, which means our deals are done faster and with a minimum of fuss.

“Our forms take about 20 minutes to fill out and we have one experienced administrator for every underwriter – twice the industry norm. And we don’t rely on just one funding line, so we aren’t restricted on the type of loans we can arrange.”

Kreeger added that mainstream lenders were unable to cater for the surging demand for buy-to-let loans.

He said: “They are more focused on protecting their balance sheets and hoarding capital. That’s why more investors are turning to us in the absence of finance from the high street.”

Danny Waters, chief executive officer of Enterprise Finance, said, “West One has a reputation for pushing through deals faster than anyone else and it’s easy to see why.

“Our team are able to deal with people who were direct and uncomplicated rather than a rigid system of procedures and administration.”

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