West One are excited to announce the launch of a brand new range of Shared Ownership and Right To Buy products which now include products with a “zero” lender fee.
We are also making some changes to the credit eligibility rules for our Prime Plus Core Product, Prime Plus LTI Boost, Shared Ownership and Right To Buy Products.
These changes will be introduced from Wednesday 17th July 2024.
SHARED OWNERSHIP PRODUCT UPDATE
- NEW: “Zero” lender fee products now available up to 100% loan to share value with rates starting from 6.89%
- NEW: Fees associated with the mortgage can now be added to the loan up to 95% loan to share value (based on the gross loan detailed in our ESIS/Offer).
RIGHT TO BUY PRODUCT UPDATE
- NEW: “Zero” lender fee products now available with rates starting from 7.09%
- NEW: Lender fees (where applicable) can be added to the mortgage based up to the maximum LTV of 75% of the OMV
CREDIT PROFILE CHANGES
We are making some changes to the credit profile eligibility rules for our Prime Plus Core/ Prime PLUS LTI Boost/ Shared Ownership/ Right To Buy products.
- We will now allow the highest status of 2 in the last 12 months for unsecured credit (increased from 1 in the last 12 months)
- Satisfied CCJ’s over £500 will now need to be satisfied for 12 months to qualify for this plan
These changes take place with effect from Wednesday 17th July 2024. For any cases affected by our change to satisfied CCJ’s within the last 12 months, we will honour cases which have at least reached DIP approved status and the application is submitted by 31st July 2024.
We would love to tell you more about West One has to offer and with more exciting changes to follow, please do get in touch if you would like to hear more about our residential mortgages products.
Email Us: brokersupport@westoneloans.co.
Call Us: 0333 123 4556