West One

Lending criteria

Funding model

Capital markets, institutional and private funding

FCA regulated

Yes

Fixed/variable interest

Both

Treatment of interest & default interest

Bridging: retained, serviced; default interest charged at double reduced rate; development: rolled interest

Sectors

Lending across all sectors

Max LTGDV

70%

Max LTC

85%

Min property value

Bridging: £100,000; BTL: £75,000; development minimum GDV: £1.5m; commercial: no minimum

Valuation retypes

Yes, by referral

Rental calculations & exposure

BTL: 125% coverage on basic rate taxpayers and limited companies, 140% for higher-rate and additional rate taxpayers; commercial: 120% limited company applications and 130% personal name applications

Types of valuation accepted

Red Book. Full valuations needed for BTL and commercial

New builds

Yes

Heavy refurb

Yes

Grade listed buildings

Yes

Green/sustainable product

No

Planning permission needed

Bridging: no; development: yes; BTL: yes; commercial: yes

Commission rate

BTL: from 0.6% via clubs and networks; bridging: from 1%; development: from 1%; commercial: 1.5%

Associations/charters

NACFB, ASTL and FIBA

Types of landlords accepted

First-time landlords, limited companies, individual and portfolio investors, foreign nationals/ex-pats (by referral), share purchase agreements, offshore and complex company structures

Upfront fees

Bridging: yes; BTL: yes, £199 application fee and valuation fee for BTL; commercial: N/A

Broker portal

Yes

Early redemption charges

Bridging: no; development: no; BTL: product specific; commercial: product specific

Investment

Yes

Owner occupied

Yes

Electronic signatures accepted

Yes

Lending on land

Yes