Head of Terms 




Credit Sanction 


Instruct Solicitors 


Sign Documents 


Set Completion Date 


Payout and Completion 

Step One: Heads of Terms 

Agree Heads of Terms provided with directors’ signatures. This can be provided by way of wet signature, scanning and emailing back to Westwood Capital or the document can be provided in electronic format through DocuSign for electronic signature. 

Step Two: Information Gathering 

Provide all preliminary conditions to Westwood Capital as soon as possible. These are listed out under the preliminary conditions section of the Heads of Terms document. 

Step Three: Valuation 

Our relationship manager will have provided you with one or more valuation quotation(s). You will now need to pick your preferred valuation quotation. Your relationship manager will then get an invoice directly from the valuers for you to pay. Once paid your valuation date will be confirmed to you. 

Step Four: Credit Sanction 

Once all the preliminary conditions have been collected and the valuation report has been received Westwood Capital will give a full credit sanction and instruct their lawyers. If you require the deal to move forward into legals before receiving the valuation report Westwood Capital can give a credit sanction to move to legals on preliminary conditions only. This is however taken at the borrower’s own risk and request the borrower to sign a waiver. The waiver explains that if the valuation comes in under value or the security is not suitable for lending purposes and affects the gross value of the loan that Westwood cannot be held liable. 

Step Five: Instruct Solicitors 

Westwood will instruct their lawyers to draw up the paperwork and provide the borrowers' lawyers with all relevant documents. As the borrowers pay for their own legal and the lenders' legal fees an undertaking for the lenders' legal fees is required. This means the borrower must place their lawyer in funds for the lender’s legal fees. An estimate of these fees is located in the Heads of Terms document. If the borrower does not have their own bridging finance lawyer Westwood Capital can provide you with a list of approved lawyers. 

Step Six: Sign Documents 

You will need to make an appointment with your lawyer to take advice on the lenders' documents and ensure that they provide Westwood Capital’s lawyers with an ILA certificate. 

Step Seven: Set Completion Date 

Once all the signed documents and property enquiries are received by Westwood Capital’s lawyers, we will look to set a date for completion. 

Step Eight: Payout and Completion 

On the day of completion, the funds will be sent to your solicitor to send on to you, the borrower. 
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