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
New residential mortgage product range from 5.45%
We are very excited to announce the introduction of a brand new product range for residential mortgage customers with rates starting from 5.45% which will be available from Wednesday 19th April.
Our brand new Platinum range will provide lower rates of interest for borrowers who need options outside of the high street.
Highlights of the range include:
- 5 yr fixed rates starting from 5.45%
- 2 yr rates starting from 5.59%
- Tracker products starting from 6.30%
- Maximum loan size of £1m up to 70% LTV (Max £500k for unencumbered properties)
- Available to first time buyers, home movers and remortgage customers including unencumbered properties
COMMISSION & LENDER FEE INFORMATION
Commission payable at 0.65% of the net loan up to a maximum of £4995.
Fixed lender fees ranging from £995 – £2995.
Key Criteria Information
- Maximum LTV 70%
- Mortgage/ Secured Arrears – 0 in 24
- Satisfied CCJ’s & Defaults – 0 in 24
- Unsatisfied and comms suppliers arrears not taken into account (unless defaulted)
- Maximum LTI – 4.5 times income
- Interest Only available up to 65% LTV
- Married applicants accepted in joint names only
- Remortgage/ unencumbered properties – minimum of 12 months ownership
- First time buyers accepted with minimum of 12 months rental history
- Mortgage term to end by age 75 (Age 70 for interest only borrowers)
- Maximum of 50% of bonus income
- Loan purposes excludes tax bills and business purposes
- Full valuations required
We are confident this highly competitive range of products will give you increased opportunities to place business with West One and our helpful broker support team are on hand to discuss any new business enquiries with you.
Please contact us if you would like to arrange a call or visit with our field based sales team to find out more about our range of residential mortgage products:
T: 0333 1234 556 (option 3, option 1)
5 Year Fixed, 3 Year ERC product
Highlights are:
- Available on both “standard” and “specialist” products – meaning HMOs, MUFBs and above/next to commercial are included.
- Deal is stressed at pay rate when looking at DSCR (as it’s technically a 5 year fixed)
- Great option to review circumstances in 3 years and either move ERC free (if we are in an improved rate environment) or benefit from the additional fixed period
- All normal underlying criteria apply (no credit scoring, no minimum income, up to age 80, 4 applicants, W1 adverse criteria, etc)