andrew ferguson

West One Loans unveils new 80% LTV product for renewed BTL range

West One Loans’ BTL division has announced a new offering and lower pricing on some of its current products.

The new range — available for selection on its broker portal starting today (18th January) — includes a new 80% LTV product, and a limited edition five-year fixed offering.

The 80% LTV offering is only available for purchases, with rates starting from 4.04% and a maximum loan size of £250,000.

The limited-edition five-year fixed product introduced to West One’s standard range offers a 75% LTV, 3.44% rate, and a maximum loan size of £500,000 for properties of up to £750,000.

The current limited-edition product range at 60% and 70% LTV has been removed as part of the lender’s changes.

For the specialist HMO/MUB range, prices have been lowered by 10 basis points, with rates now starting from 3.54%.

West One has also re-entered the short-term holiday let and expat markets, which will initially be distributed on a semi-exclusive basis through some key packager partners starting today (18th January).

In addition, the lender has announced criteria changes for its new-build BTL first-charge loan offering, which will be restricted to a maximum 65% LTV (down from 75% LTV) from today (18th January) due to significant recent demand.

Andrew Ferguson, managing director of West One Loans’ BTL division (pictured above), said: “It may be an uncertain period just now with the lockdown in place, but there is also lots of optimism looking ahead to the rest of the year. 

“With the launch of these new products, we’re able to offer more choice to the intermediary market and enable them to take full advantage of the opportunities for the specialist sector with a range of products to cater for wide-ranging needs. 

“From first-time landlords through to portfolio landlords, whether they need a competitive rate for a standard property or need to fund a more niche transaction in the current market, such as holiday lets, we are here to support [them].”

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