The lender has ambitious growth targets for 2023 with bridging and development finance aiming to drive lending higher as market demand continues to rise.
Its latest data shows short-term lending at the company soared in the 12 months to December, as total completions rose 13% year-on-year to reach £915m.
During the past calendar year, bridging completions rose 12% on the previous 12 months.
The bridging finance team also saw a 27% increase in assets under management.
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The bridging and development finance teams delivered record origination levels and are now setting their sights on surpassing the £1bn target in 2023.
Tom Cantor, head of bridging at West One (pictured above), said: “Demand for bridging lending remains high across all elements of our proposition.
“Whether it’s developers looking to bridging finance to exit build projects, homeowners looking for funding to deliver major refurbishment projects, or anything in between — West One is ready, willing and able to supply the funding.
“As one of the few bridging lenders in the market to lend both regulated and unregulated, and the capability to lend up to £30m or more, on referral, we really can offer solutions to just about any bridging situation.”
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