West One cuts unregulated bridging rates up to 0.4%

West One Loans has cut rates for its unregulated residential loans by up to 0.40 per cent.

For properties worth less than £2.5m, rates will drop to 0.55 per cent up to 50 per cent LTV, ranging to 0.85 per cent up to 74.5 per cent LTV.

West One will still lend on properties of more than £2.5m by referral.

The new rates are available to all West One’s brokers.

West One Loans sales director Marie Grundy says: “At a time when there is change afoot in the bridging loan market, we see this move to reduce the rates on unregulated residential loans as an important shift to support our core customers.”