West One revises BTL range

West One has announced product and criteria changes across its BTL range, taking effect from today (2nd September).

The standard W1 product range has seen prices cut by up to 20 basis points and fees reduced by 50 percentage points on most of its five-year fixed suite.

Its specialist W1 products for HMOs and MUBs have also been re-priced with reductions of up to 15 basis points, now available from 3.44% with a 1.5% fee.

The lender has also made changes across its holiday let and expat suites, with pricing on the former  being reduced by 10 percentage points to 4.09%, and the latter reduced by 25 basis points to 3.84%, both on a five-year fixed term.

Both the holiday let and expat offerings are now available up to 75% LTV — a change also extended to MUFB properties within this range.

West One has also introduced new products, including a 75% LTV limited edition option to the standard W1 range.  

It offers loans between £150,000 and £750,000 on a five-year fixed payrate, priced at 3.19% with a 1.5% fee and restricted to three loans per applicant, and is not available for new builds.

The lender has also added a limited-edition five-year fixed-rate offering for small HMOs and MUFBs to its specialist W1 range, featuring loans of up to £750,000 at 2.49% with a 2% fee. 

A number of products have also been withdrawn, including the current limited-edition option for small HMO/MUFB, previously offered at 3.59% on a five-year fixed term. 

Andrew Ferguson, managing director at West One (pictured above), said: “We’re making these changes today in response to a busy BTL market where we’ve been able to expand our distribution this year and enable more brokers and clients to benefit from the strength of our proposition. 

“Our continued focus on service delivery aligned with these rate changes mean we are well placed to support our broker partners and their landlord clients as we move towards the end of the year.”

Leave a comment