West One have made two significant changes this week to their Buy-to-Let and Residential offering. Buy-to-Let includes new product range, and residential includes launch of Right to Buy and Shared Ownership. Outlined and split below.
Buy-to-Let update
Introducing the NEW W3 product for Core Standard and Specialist product ranges. The new addition means we have extended the range with enhanced options for landlords who have encountered previous credit issues. A summary of change across our Buy-to-Let range are below:
- Introduction of a NEW W3 product for Core Standard and Specialist product ranges
- Enhanced impaired credit criteria above current W2 offering
- Impaired credit within last 12 months now considered
- Impaired credit outside of 12 months not assessed for plan purposes subject to satisfactory explanation
- Includes Defaults, CCJ’s, Secured and unsecured arrears
For more on the NEW W3 range, check our product guide: https://www.westoneloans.co.uk/buy-to-let-mortgages#product-guide, contact your BDM, call on 0333 1234 556 or email: btlbrokersupport@westoneloans.co.uk.
Residential Update
West One Residential mortgages now brings you…Right to Buy and Shared Ownership product options!!
These products are designed to support borrowers with non-standard borrowing requirements access affordable home ownership schemes. The product offering of Right to Buy and Shared Ownership aims to support another group of borrowers with the flexible West One approach. Highlights of Right to Buy and Shared Ownership can be found below.
Right to Buy – Highlights
Purchases only, starting from 6.85%
Up to 100% of discounted purchase price up to a maximum of overall LTV of 75%
Includes options for tenants of ex-council flats
Min loan £25,000/ Max Loan £500,000 (Loans over £500,000 by referral)
Shared Ownership – Highlights
Product options available up to 100% of the share purchase value subject to a maximum of 75% OMV
Minimum share purchase of 25%
Available for purchases & remortgages starting from 6.45%
In addition, we have increased the LTV of our Prime Plus Core range to 80%, and first-time buyers and homemovers living with family now able to access up to 90% LTV products.
*Check our product guide for details: https://www.westoneloans.co.uk/residential-mortgages#product-guide