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 rate reductions 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 Thursday 20th June 2024.
The changes affect our Core and Complex product ranges.
A summary of some of the changes are noted below:
Product changes:
- Standard and Specialist Core W2 and W3 products reduced by up to 15bps
- Complex products reduced by up to 10bps
- Specialist Holiday Let 2 year and 5 year fixed reduced by 10bps
- 2-year fixed rates now starting from 3.09%
- 5 year fixed rates now starting from 4.15%
A wide range of fee options are available across the product range, 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
View Updated Product Guide June 2024
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 48 hours
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.
Second Charge Product Update – Introducing Market Leading 5 Year Fixed Rates From 6.69%
We are delighted to announce further pricing reductions to our 5 year fixed rates within our Apex 0 range. These new rates will be available for selection within our broker portal from Thursday 20th June. Our improved competitive pricing will mean we have market leading rates across many of our 2,3 and 5 year products.
As a reminder we recently improved our affordability across our variable and 2 & 3 year fixed rates, and all of our products are available without credit scoring.
Our latest product guide can be accessed here:
Latest Product Guide – 20th June 2024
Our helpful broker support team are available to offer dedicated support to our Specialist Distribution Partners.
Please do not hesitate to contact us should you wish to discuss a new enquiry and in the meantime thank you as always for your valued support.
Residential Mortgage Product Update – Securing fast Residential Remortgage with our renowned flexible product criteria
Supporting borrowers looking for a Residential Remortgage whether to improve mortgage terms, raise capital, or consolidate debt.
Why the Remortgage Market Matters
In the first three quarters of 2024, 884,999 UK mortgages will be up for renewal, according to ONS data, with the remortgage market expected to be worth £58 Billion in 2025, which will represent over a quarter of the market.
The remortgage market will make up a considerable proportion of enquiries that intermediaries and brokers see, and being able to support borrowers to secure new products, quickly will be key.
West One Residential Remortgages
- Fast track remortgage service provided by our in-house legal team, with previous cases completed in just FOUR DAYS.
- Borrowers have control over when they want to complete, with the option of next-day completions available
- Fixed fee of £99 for all qualifying loan sizes up to £750,000
- 12 days is the average time from offer to completion in 2024!
- For mortgage up to £750,000, including capital raising remortgages up to 90% LTV (including debt consolidation)
- Legal work starts on receipt of the application
Our recent product updates and improved affordability assessment are crafted to offer a broader selection of specialised mortgage options for your clients. Our dedicated broker supported team, along with our field-based BDMs, are ready to assist you with any new cases you wish to discuss.
Should you wish to discuss a new case or find out more about working with West One, please get in touch with our dedicated broker team: