West One Loans announces BTL changes

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

Taking effect from today, the changes include reduced rates on the lender’s two and five-year fixed rate loans in its green product range. At 65% LTV, rates will now start from 2.99% for a two-year fix, which previously stood at 3.04%, and come with a 1.25% product fee.

There are also new limited edition large loan products for standard and HMO properties which start from 3.07% for a five-year fixed rate, with a 1.5% product fee. West One confirmed that these are available for loan sizes of £350,000 to £1m on standard property types.

West One has also launched a new limited edition large loan for HMOs and MUFBs with up to six bedrooms. This includes a five-year fixed rate product at 3.38% with a 1.75% product fee, and is available for loan sizes of £350,000 to £1m.

As well as these product and rate changes, West One has also announced it has adjusted its criteria. The lender will now consider new build properties at up to 75% LTV, previously 70%, without prior referral.

Managing director for West One Loans’ BTL division, Andrew Ferguson, commented: “These new products and rate changes support our aspiration to become the ‘go-to option’ for brokers in the BTL 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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