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
Notification of Second Charge Pricing Changes
Following further increases in swap rates over the last week we are giving you advance notice that we will be withdrawing our fixed rate products from our residential and buy to let second charge range with effect from 12pm on Tuesday 4th July 2023.
New Fixed Rate Pricing
We will introducing updated fixed rate pricing later this week.
Please note that our tracker products remain unchanged.
A further bulletin will follow with our updated product guide.
Pipeline Cases
We can continue to accept applications on our existing product range dated 28 June 2023 providing the application is submitted with a valid ESIS and the offer is issued by Wednesday 2nd August 2023.
If any subsequent changes are made to the application which will require a new ESIS to be issued, this will need to be selected from our new product range.
We do recommend you submit your fully packaged application at the earliest opportunity to avoid disappointment.
Please look out for a further bulletin from us which will include details of our updated product range.
Important Buy-to-Let Product Changes
We are writing to update you on changes to our Buy-to-Let product range effective from close of business today, Tuesday 4th July 2023. The revised product range will be available for selection on our broker portal from Wednesday 5th July 2023 and details of the new products including a new product guide will follow.
Please note that we are increasing fixed rates across our entire product range.
All existing fixed rate products withdrawn with effect from close of business Tuesday 4th July 2023.
New rates will apply for any submissions from Wednesday 5th July 2023.
Pipeline
Where a product rate has increased the case needs to be offered by close of business Wednesday 2nd August 2023. In order to meet this deadline, it is advisable to ensure the application, along with application and valuation fees, are submitted promptly so the case can begin the underwriting process.
Please note the offer deadline dates of 13th and 24th of July still apply to previous product withdrawals prior to this (if in any doubt regarding the offer deadline for your current case, please communicate with the underwriter).
Registration
If any of your colleagues would like to register to become an introducer to West One BTL, 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].