West One Loans has confirmed it is relaunching the 70% LTV products from its buy-to-let (BTL) product range with immediate effect and that it will also be resuming physical valuations.
The lender’s 70% LTV products, subject to specific parameters, involve a maximum loan size of £250,000, and a maximum property value of £400,000 – or £300,000 for flats – while the 65% range will still cater for loans up to £750,000, subject to revised product pricing.
West One suggested that with the recent government update announcing the reopening the property market, it had been quick to respond to the needs of its brokers and that these immediate changes will allow the lender to responsibly support broker partners and clients through the ongoing COVID-19 pandemic.
West One BTL managing director, Andrew Ferguson, said: “We are keeping a constant eye on market developments at this time and it is pleasing to be able to make some positive changes to support our broker partners and clients.
“The improvement in the valuation position is very welcome news for lenders and brokers and I expect we will see continued growth in activity over the weeks ahead.”
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