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: Important Product Changes
We are writing to update you on changes to our products and criteria.
A summary of the changes is below:
- Debt Service Cover Ratio (DSCR) will reduce immediately for Variable rate products. It will now be based on the higher of a stressed rate of 6.75% (previously 7.25%) or payrate.
- All current 2-year Fixed products are to be withdrawn. Pipeline cases will need to be offered by COB 8th December 2022.
- Please note our application fee of £150 is changing to £180 with effect from the close of business Thursday this week. After this time all newly submitted applications will require this payment.