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
Buy-to-Let Update: Important Product and Criteria Changes
We are making changes to our Core 1st Charge BTL fixed rate product range with effect from close of business, 6th March 2024. The revised fixed rate product range will be available for selection on our broker portal from tomorrow, Thursday 7th March 2024.
A summary of some of the changes are noted below:
Product changes highlights:
- New 80% LTV product introduced on Standard 2- and 5-year fixed rates with 2.5% fee option only. Rates from 6.04%.
- 75% LTV new fee option available at 7%. Applies to Standard and Specialist ranges only.
- New Build now up to 75% for Core Range (increased from 70%).
- New Small HMO/MUFB standalone product range with rates from 2.94%.
- Open Market Valuation now considered after 6 months ownership.
- Holiday Let products now moved from Complex to Specialist range.
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.
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:
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].