West One has expanded its footprint in specialist lending with the full launch of its commercial mortgage range, following a successful pilot with a select panel of brokers.

The lender confirmed that its products are now available across England and Wales, with rates starting from 6.69% on semi-commercial properties and 7.44% on commercial assets.

Lending is offered up to 75% of the Vacant Possession Market Value (VPMV), with loans of up to £3 million available as standard.

PILOT PROGRAMME SUCCESS

The pilot generated strong demand, with hundreds of enquiries leading to what West One described as a “healthy conversion rate”. The exercise allowed the lender to refine its proposition and test how it met the needs of commercial borrowers.

Speed of service was a defining feature of the pilot, with West One committing to respond to all communications within 24–48 hours. The lender said this approach not only improved the broker experience but also reduced average completion times.

Unlike many commercial mortgage products, West One’s lending is based on VPMV rather than the standard 180-day valuation figure. Borrowers are not subject to credit scoring, with cases instead assessed individually. Criteria extend to first-time landlords, clients with minor credit issues, foreign nationals, expatriates, and those with complex income structures.

INDUSTRY POSITIONING

Duncan Abraham, regional director at West One, said: “The results of the pilot clearly demonstrate the appetite for flexible and practical commercial mortgage solutions.

“We’ve listened to brokers and investors and designed our product to meet their needs with speed and clarity.

“The full launch marks a significant milestone, and I look forward to supporting our broker clients as we provide new opportunities within the commercial property sector.”

Danny Waters (pictured), chief executive of Enra Specialist Finance, West One’s parent company, added: “With the addition of commercial mortgages to our range of products, West One is entering a new phase of growth. Interest in our commercial pilot programme has been immense, and it is clear that brokers are looking for better alternatives to those that have been available on the market.

“West One is looking to fill that gap with a unique proposition that will set us apart in the industry while contributing to strong revenue generation through the loans we originate.”