West One Loans has reported that it lent £62m in June, a new record month.

This has contributed to current total bridging lending breaking through £400m.

In June, West One completed more than 70 transactions, beating the company’s previous high of £53m delivered in November 2016. A broad mix of business contributed to this figure, including both a range of regular cases and one-off large requests for funding, as well as a mix of residential and commercial activity.

The record month comes as West One recently announced it will be launching a second charge term-lending mortgage range in Q3 this year, as part of broadening their reach into other areas of the specialist lending arena.

Stephen Wasserman (pictured), managing director of West One Loans, said: “June was another record month for us, with £62m provided to fund both residential and commercial property loans. The market is growing and remains active, with a solid base of transactions in the market-place, suggesting it’s in a robust position.

“Nevertheless, the slower growth than previously means the sector remains highly competitive. In spite of that, we have seen a significant rise in requests for our specialist financing and are committed to providing tailored and flexible funding solutions.

“We’re proud to be able to help so many borrowers with the financing they need, and excited to continue this further with the launch of our second charge mortgages in the near future.”