West One brings out green BTL products

West One has launched a green BTL range as part of its environmental initiative to fund projects with sustainability and carbon reduction measures in mind.

The new suite, which offers loans between £50,000 and £1.5m, is available on the lender’s broker portal for standard BTL properties with an EPC rating of A to C.

It comprises two- and five-year fixed-rate options at 65% and 70% LTV, with rates starting from 3.04%, with a 1.25% fee.

The products are not available for new-build properties, but conversions are permitted.

As part of its ‘funding the future’ campaign, West One is developing a number of new products which will be introduced in the coming months.

The initiative is supported by West One’s parent company, Enra Specialist Finance, which said it is an important part of the group’s overall ESG strategy.

Stephen Hogg, COO at Enra, said: “This campaign launch is about taking responsibility for the changes we can make to have a positive impact on sustainability and carbon reduction within the property and housing markets.

“We know we cannot change the whole market alone, but we want to make a positive impact where we can.”

Andrew Ferguson, managing director of BTL at West One, explained that the new products extended the lender’s diverse offering even further.

“The green product is a great addition to our range and will appeal to investors and landlords looking to upgrade older properties in particular,” he added.

“It’s an important step in terms of bringing those properties into line with the standards required for a more sustainable and carbon neutral property market.

“We will continue to expand our product range in the coming months, while maintaining the same high standards of underwriting, customer service and reliable delivery that intermediaries and clients already enjoy from West One.”

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