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 Changes
We are making changes to our 1st Charge Buy-to-Let fixed rate product range. The revised fixed rate product range will be available for selection on our broker portal from tomorrow Wednesday 17th April 2024.
The changes affect our Limited-Edition, Core and Complex product ranges.
A summary of some of the changes are noted below:
Product Changes:
- Limited-Edition range increased by up to 22bps
- Standard and Specialist Core products increased by 30bps
- Complex range increased by 20bps
- W2 and W3 ranges increased by 20bps
- 2-year fixed rates now starting from 3.09%
- 5 year fixed rates now starting from 4.25%
A wide range fee options are available across the product range, which are product specific, ranging from 2.50% to 4.99% which provides your clients with choice depending on their individual circumstances.
All existing products withdrawn with effect from close of business today, Tuesday 16th April 2024.
New Product Guide:
An updated product guide incorporating these changes is available here.
Pipeline
Where a product rate has increased the case needs to be offered by close of business Wednesday 29th May 2024. 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.
Service Levels
At West One we pride ourselves on speed of service and currently our SLA’s on Buy-to-Let are as follows:
- Pre-submission referrals – dealt with within 2 hours
- Submitted Applications – fully underwritten and updated provided within 48 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].