BTL market

West One Loans enters first charge BTL market

Specialist lender West One Loans has formally launched a range of first charge buy-to-let (BTL) mortgage products, including both standard and specialist products.

While the specialist range will cater for HMOs, multi-unit freehold blocks (MUFBs), ex-pats, holiday lets and Airbnb properties, the standard range will be available to both individual and limited company borrowers secured against standard property types.

Products include two- and five-year fixed terms.

Rates start from 3.39%, with a maximum LTV of 80%, and loan sizes up to £2m. 

There is also the option of a fast-track remortgage for individual borrowers remortgaging up to £750,000. 

Danny Waters, CEO at Enra Group — the parent company of the specialist lender — claimed that its launch into the first charge buy-to-let mortgage market was “an exciting new chapter for West One”.

“We are committed to providing a wider reach of specialist lending products to meet the needs of borrowers who would benefit from a commonsense approach to lending.

“Our extensive experience within the property finance market means we are well positioned to understand the complexities of the market, in addition to focusing on making the process of obtaining a buy-to-let mortgage as painless as possible.”

The specialist lender has also announced that Andrew Ferguson has joined to help the team establish the business. 

Andrew previously served in senior roles in the BTL mortgage sector at Kent Reliance, Axis Bank and, most recently, Foundation Home Loans as commercial director.

Danny added: “We’re very pleased to bring Andrew on board. 

“He has a track record of building lending business in the buy-to-let sector, and his wealth of knowledge and experience will be an asset as we look to establish West One Loans in the market.”

A broker portal to support the launch has been created by West One’s team of in-house developers, while the IT platform will be followed by the addition of a broker case hub. 

The products will initially be available via partners including Enterprise Finance, Vantage Finance, Brightstar, Dynamo and Connect for Intermediaries — with wider distribution in the near future.

Ying Tan, managing director at Dynamo for Intermediaries, said: “We believe this will be a valuable and competitive addition to the marketplace and look forward to officially adding West One to our lending panel to provide an even wider range of options to landlords.”

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