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.
Buy-to-Let: Important Product Changes
We are writing to update you on some changes to our Core and Limited-Edition product ranges effective from Wednesday 22nd March 2023. The revised product ranges will be available for selection on our broker portal from this day.
We are pleased to announce the launch of new 5 Year Fixed products with a 3 Year ERC and new market leading Lifetime Tracker products. We are also revising product pricing across most ranges.
- Introduction of new 5 Year Fixed products with a 3 Year ERC. This product is stressed at pay rate and is targeted at borrowers who want long term payment stability with the flexibility to exit early. Rates from 4.99% (Standard) and 5.19% (Specialist).
- Introduction of new market leading Lifetime Trackers. Rates from BBR+1.65% (Standard) and BBR+1.85%(Specialist).
- Re-introduction of Core Green Standard and Specialist ranges priced -10bps to equivalent non-green products.
- Increase to <55% LTV Standard and Specialist Limited Edition product rates. Standard and Specialist Limited Edition rates above this LTV are unchanged. .
- Introduction of ERCs to our Core Discount Tracker products.
New Product Guide
An updated product guide incorporating these changes is available here.
All affected cases where a new increased rate would apply, need to be offered on the existing rate by close of business Wednesday 3rd May 2023. 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.