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West One Loans reduces green rates

Jake Carter

November 24, 2021

green

West One Loans’ buy-to-let (BTL) division has made a number of product and criteria changes, including reduced rates on its green product range and limited edition loans.

The key changes include reduced rates on 2 and 5-year fixed rate loans in the green product range.

At 65% loan-to-value (LTV), rates now start from 2.99% for a 2-year fixed (previously 3.04%), and come with a 1.25% product fee.

There are also new limited edition large loan products for standard and houses in multiple occupation (HMOs).

These start from 3.07% for a 5-year fixed rate, with a 1.5% product fee, and are available for loan sizes of £350,000 to £1m on standard property types.

West One has launched a new limited edition large loan for HMOs and multi-unit freehold blocks (MUFBs) with up to six bedrooms.

This is a 5-year fixed rate product at 3.38% with a 1.75% product fee and is available for loan sizes of £350,000 to £1m.

In addition to the new product and rate changes, West One has also adjusted its criteria; it will now consider new build properties at up to 75% LTV, previously 70%, without prior referral.

Andrew Ferguson, managing director for West One Loans buy-to-let division, said: “These new products and rate changes support our aspiration to become the ‘go-to option’ for brokers in the buy-to-let arena.

“Our continued focus on service delivery and common-sense underwriting, aligned with these product changes, mean we are well placed to support our broker partners and their landlord clients as we move towards the end of the year.”


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