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
Important Buy-to-Let Update: Important Product Changes
We are making changes to our 1st Charge Buy-to-Let Limited Edition Fixed Rate products. The revised fixed rate product range will be available for selection on our broker portal from today, Friday 15th September 2023.
Please note that we are decreasing fixed rates across our limited-edition product range.
A summary of some of the changes are noted below:
Product Changes:
- Standard Limited Edition W1 5-year fixed from 4.80%
- Specialist Limited Edition W1 5-year fixed from 4.80%
- Standard Limited Edition Non-Portfolio 5-year fixed from 5.50%
- Specialist Limited Edition Non-Portfolio W1 5-year fixed from 5.50%
- All 5-year fixed products ICR at payrate
Revised decreased pricing on 2-year fixed rates with rates starting from 4.90%.
Majority of other limited-edition fixed products decreased.
All existing Limited-Edition fixed rate products withdrawn with immediate effect.
Limited-Edition tracker products withdrawn with immediate effect.
We have expanded our range of fee options to create greater choice for brokers in supporting clients with the current ICR challenges.
Pipeline processing
Please note any deals submitted on existing Limited-Edition tracker products will need to be offered by COB 20th October 2023.
New Product Guide
An updated product guide incorporating these changes is available here
Important Buy-to-Let Update: Important Product Changes
We are making changes to our Core 1st Charge Buy-to-Let fixed rate products. The revised fixed rate product range will be available for selection on our broker portal from 20th September 2023.
Please note that we are decreasing fixed rates across our Core Standard. Specialist and Complex product ranges.
A summary of some of the changes are noted below:
Product Changes
- Up to 45bps reduction across all W1 5-year standard fixed rate products
- Up to 55bps reduction across all W1 5-year specialist fixed rate products
- Up to 30bps reduction across all W2 5-year standard fixed rate products
- Up to 20bps reduction across all W2 5-year specialist fixed rate products
- Up to 95bps reduction across Complex 2-year fixed rates
- Up to 40bps reduction across Complex 5-year fixed rates
- Re-Introduction of 2-year fixed rate products on Standard and Specialist core ranges
- Introduction of 2-year discount products on Standard, Specialist and Complex ranges including a 2.50% fee option with ERC’s and a 4.00% fee option with no ERC’s
All existing fixed rate products from close of business Tuesday 19th September 2023.
We have expanded our range of fee options to create greater choice for brokers in supporting clients with the current ICR challenges.
These products are in addition to the Limited-Edition product changes made on Friday 15th September 2023.
New Product Guide
An updated product guide incorporating these changes is available here.
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.
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].
Residential Mortgages Update – New Cashback Remortgage Product and Pricing Reductions
We are delighted to announce a series of enhancements to our residential mortgage range including significant pricing reductions. The new product range will be available from Friday 22nd September.
We are introducing a cashback remortgage product offering £500 towards legal fees payable on completion.
As a reminder our fast track legal service offers:
- Legal work starts early in the process upon receipt of the application
- 11 days average completion time from offer stage
- Puts the borrower back in control of the completion timescales
Product Update & Pricing Reductions
NEW – Introduction of 3 year fixed rates across the range starting from 7.39%
Prime Plus (5.0 times LTI) & Prime Flex (LTI’s > 5.0 times income)
Prime Plus rates reduced by up to 0.44%
- 5 year fixed rates starting from 6.89%
- 3 year fixed rates starting from 7.39%
- 2 year fixed rates starting from 7.59%
- Tracker Products starting from 2.75% above BBR
Prime Plus Flex reduced by up to 0.80%
- 5 year fixed rates starting from 7.29%
- 3 year fixed rates starting from 7.79%
- 2 year fixed rates starting from 7.99%
- Tracker Products starting from 3.25% above BBR
Prime (5.0 times LTI) & Prime Flex (LTI’s > 5.0 times income)
Prime rates reduced by up to 0.70%
- 5 year fixed rates starting from 7.39%
- 3 year fixed rates starting from 7.49%
- 2 year fixed rates starting from 7.99%
- Tracker Product starting from 3.00% above BBR
Prime Flex reduced by up to 0.71%
- 5 year fixed rates starting from 7.89%
- 3 year fixed rates starting from 7.99%
- 2 year fixed rates starting from 8.49%
- Tracker Product starting from 3.50% above BBR
Near Prime (5.0 times LTI)
NEW! 3 year rate starting from 9.25%