Andrew Ferguson

West One relaunches BTL and second-charge offering




West One has refreshed its BTL and second-charge products, with new rates and criteria.

The changes designed to provide its broker partners with more options, including limited edition products.

Its overall BTL range has been enhanced, with increases in LTVs, loan sizes, and a “significant” rate reduction.

Landlords who have previously taken a payment holiday also have access to the BTL products, as long as normal payments have resumed and at least two payments have now been made. 

Key features include:

  • an increase from 70% LTV to 75% LTV 
  • maximum loan size increased from £750,000 to £1m
  • all rates have been reduced by up to 65 basis points and now start at 3.59% for standard residential products and 3.79% on specialist.

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

Its specialist BTL mortgages are available for expats, holiday lets and Airbnb, HMOs and MUBs. 

It can be accessed by both individual and limited company borrowers.

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

In addition, it has increased loan sizes on its BTL second-charge range, now available up to £125,000 and LTVs up to 70%.

Self-employed borrowers can benefit from reductions to the minimum trading period from three years down to two. 

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

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

“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 BTL product ranges represent our most significant set of changes since the onset of lockdown.”

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