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 Product Change
We are making exciting changes to our Limited-Edition, Core and Complex 1st Charge BTL fixed rate product range. The revised fixed rate product range will be available for selection on our broker portal from 24th November 2023.
A summary of some of the changes are noted below:
Product change highlights
Reductions on rates across Limited Edition Portfolio and Non-Portfolio products:
- Portfolio 2 year fixed – reductions of up to 11bps, rates starting at 4.19%
- Portfolio 5 year fixed – reductions of up to 16bps, rates starting at 4.44%
- Non-Portfolio 2 year fixed – reductions of up to 10bps, rates starting at 4.19%
- Non-Portfolio 5 year fixed – reductions of up to 14bps, rates starting at 5.06%
A wide range of fee options available which are product specific ranging from 2.50% to 9.99% which provides your clients with choice depending on their individual circumstances.
Core and complex fixed rate products also reduced by up to 30bps with rates starting from 4.49% on 2-year fixed and 5.29% on 5-year fixed.
As a reminder our complex range includes Large HMO/MUB, Holiday Let, Expat and the new First Time Buyer and Foreign National as announced in the broker brief issued 1st November 2023.
New Product Guide
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: Register as an introducer
Mortgage Offer Validity Period
Please note our BTL mortgage offers have returned to 90 days validity period with effect from today for all NEW offers. (Increased from 60 days).
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].
Product Update – Apex 0 & Interest Only Pricing Reductions
We are pleased to announce significant pricing reductions across our Apex 0 and Interest Only Products with effect from Friday 24th November.
Apex 0
- 5 yr fixed rates starting from 7.10% reduced by up to 0.55%
- 3 yr fixed rates starting from 8.29% reduced by up to 0.41%
- 2 yr fixed rates starting from 8.49% reduced by up to 0.56%
Apex 0 – INTEREST ONLY LARGE LOAN PRODUCT
- 5 yr fixed rates starting from 8.10% reduced by 0.89%
- 2 yr fixed rates starting from 9.49% reduced by 0.75%
Full details of our pricing reductions can be found in our updated product guide dated 24th November 2023.
Updated Product Guide – 24th November 2023
Our dedicated broker support team and field based sales team are available to assist with any new enquiries or referrals you would like to discuss or if you would like to arrange refresher training with your teams.
Limited Edition Rates Starting From 6.09%
We are excited to announce some major enhancements to our residential mortgage range including significant pricing reductions and the extension of our offer period with effect from Tuesday 28th November.
Offer Period:
We are pleased to confirm our offer period will now be extended to 90 days with immediate effect.
Rate Reductions:
We are making further rate reductions to our Platinum, Prime Plus and Prime Product Ranges including:
- Fixed rates reduced by up to 0.64%
- Limited edition 5 year fixed rates starting from 6.09%
- 2 & 3 year fixed rates starting from 6.75%
- Reductions to Prime Plus Flex and Prime Flex plans offering LTI’s over 5.0 times income starting from 6.99%
- Reductions to our Limited Edition £500 Cashback range starting from 6.89%
Please note we are withdrawing our Cashback BBR Lifetime Tracker Products with effect from the close of business on Monday 27th November 2023.
Full details of all our changes are available in our latest product guide dated 27th November 2023