Below is an update from West One, the Bridging, BTL, Commercial, and Seconds Mortgage lender, that you can access via our specialist mortgage team. Contact our team today for more information.
Announcement
Important Buy-to-Let Update: Important Criteria Changes
We are writing to update you on changes to our Buy-to-Let criteria that come into force with immediate effect.
A summary of the change, which relates to our Buy-to-Let rental calculation, is noted below:
Variable rate or less than 5-year fixed rate rental calculation will be based on the higher of stressed rate of 6.50% or pay rate, down from a previous stress rate of 7.25%.
Any new cases received will now be calculated based on this new stress rate.
New Product Guide
An updated product guide incorporating these changes is available here.
Service Levels
At West One we pride ourselves on speed of service and currently our SLA’s on BTL are as follows:
- Pre-submission referrals – dealt with within 2 hours
- Submitted Applications – fully underwritten and updated provided within 24 hours
Registration
If any of your colleagues would like to register to become an introducer to West One Buy-to-Let, please provide them with this link:
Please get in touch if you would like any support or training on submitting a case and we will arrange a training session.
If you have cases to discuss or require any further information, please contact your BDM or the broker support team on 0333 1234 556 or email [email protected].