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 Product Changes
We are making changes to our 1st Charge Buy-to-Let products. The revised fixed rate product range will be available for selection on our broker portal from Tuesday 22nd August 2023.
Please note that we are amending rates across the majority of our product range. These changes include increases on some products and reductions on others.
A summary of some changes are noted below:
Product changes
Reductions on our Tracker rates and some of our Limited-Edition 2 year fixed rates
- Limited-Edition W1 Tracker from 6.85%
- Limited-Edition Standard W1 2 year fixed from 5.39%
- Limited-Edition Specialist W1 2 year fixed from 5.42%
Limited-Edition 5 year fixed rates increased by up to 20 bps
- Limited-Edition Standard W1 5 year fixed from 5.5%
- Limited-Edition Specialist W1 5 year fixed from 5.5%
- Increased fee option now available on 5 year fixed with 3 year ERC product
Core range increased by up to 30 bps.
There are no changes to Holiday Let and Expat rates.
All existing fixed rate products withdrawn with effect from close of business Monday 21st August 2023.
Pipeline
Where a product rate has been increased the case needs to be offered by close of business Tuesday 19th September 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.
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].