West One Loans unveils 80% LTV product

Jake Carter

January 18, 2021

West One Loans’ buy-to-let division has launched a number of mortgage products.

The new range will be available for selection on its broker portal and includes a new 80% LTV product, a limited edition 5-year fixed product, and a return to the short-term let and expat markets.

The 80% is only available for purchases, with rates starting from 4.04%.

It is within the lender’s standard range and includes a maximum loan size of £250,000.

Also being introduced is a new 75% LTV limited edition product at 3.44%, added to the West One Standard Range.

This deal includes a maximum loan size of £500,000 for properties of up £750,000.

Meanwhile prices are coming down by ten basis points for the specialist HMO/MUB range, with rates now starting from 3.54%.

In addition, West One is re-entering the short-term holiday let and expat markets this year, which will initially be distributed on a semi-exclusive basis through some key packager partners.

Furthermore, the current limited edition product range (65% and 70% LTV) is being removed as part of these changes.

West One is also announcing criteria change for its new build loan offering, which will be restricted to a maximum 65% LTV (down from 75% LTV) due to significant recent demand.

Andrew Ferguson, managing director of West One Loans’ buy-to-let division, said: “Today we are pleased to confirm some exciting new products as part of our plans to expand our buy-to-let range in 2021.

“It may be an uncertain period just now with the lockdown in place, but there is also lots of optimism looking ahead to the rest of the year.

“With the launch of these new products we’re able to offer more choice to the intermediary market and enable them to take full advantage of the opportunities for the specialist sector with a range of products to cater for wide-ranging needs.

“From first-time landlords through to portfolio landlords, whether they need a competitive rate for a standard property or need to fund a more niche transaction in the current market – such as holiday lets – we are here to support.”

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