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West One updates BTL and second charge rates and criteria

Jessica Bird

August 3, 2020

andrew ferguson west one

West One has relaunched its buy-to-let (BTL) and second charge products, with updated rates and criteria.

West One has enhanced its overall buy-to-let range, with increases in loan-to-values (LTVs), loan sizes and a significant rate reduction.

The buy-to-let range is now also available to landlords who have previously taken a payment holiday as long as normal payments have resumed and at least two payments have now been made.

Key features are: an increase from 70% to 75% LTV; maximum loan size increased from £750,000 to £1m; rates reduced by up to 65 basis points, now starting at 3.59% for standard residential products and 3.79% on specialist products.

West One’s standard and specialist buy-to-let products are available to first-time and experienced landlords, where the applicant owns their own residential property.

Its specialist range of buy-to-let mortgages is available for expats, holiday lets and Airbnb, houses in multiple occupation (HMO) and multi-unit blocks (MUB). It can be accessed by both individual and limited-company borrowers.

West One has reintroduced its second charge residential prime plan, Apex 0, with rates starting from 3.99%.

The lender has also increased loan sizes on its buy-to-let second charge range, with loan sizes now available up to £125,000 and LTVs up to 70%.

Borrowers who have recently exited payment holidays or returned to work from furlough can now be considered on a number of plans up to 65% LTV.

West One runs a ‘no credit scoring’ approach with specialist underwriting on all applications available up to a term of 30 years.

Andrew Ferguson (pictured), managing director at West One Buy-to-Let, said: “Our refreshed range of products and criteria will support our broker partners and demonstrates our commitment to this market.

“We continued to perform strongly during lockdown and are confident our broad range of specialist buy-to-let products, along with repricing across our entire range, provides a compelling and competitive reason to use West One.

“We have further ambitious plans lined up for later this month which will further enhance our offering and we will confirm further details shortly.”

Marie Grundy, sales director for West One, added: “These major enhancements to both our second charge residential and buy-to-let product ranges represent our most significant set of changes since the onset of lockdown.

“They also underline our commitment to the second-charge market at a time when products are in shorter supply.

“The return of our prime plan, Apex 0, and increased options for landlords and self-employed borrowers, combined with the introduction of products for borrowers exiting payment holidays, mean an even broader range of borrowing needs can be met through our comprehensive second charge product offering.”


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