We are delighted to announce some positive changes to our second charge product range.
KEY HIGHLIGHTS
Buy-to-Let Second Charge Product Refresh
We have overhauled our Buy-to-Let product range which includes the following changes:
- Improved Affordability for BTL borrowers which should result in significantly more landlords meeting our minimum DSCR requirements
- Increased LTV’s up to 75%
- Reduced pricing for 70% LTV products
- Increased Commission from 1.75% to 2%
- Maximum Loan Size will now be £75,000 across all LTV bandings
Limited Edition Commission Increase
We are increasing our commission cap from £4995 to £10,000 for loans over £250,000 as a limited edition offering throughout our residential product range. This will apply to new cases registered on our broker portal with immediate effect.
Increased LTV’s for Interest Only Borrowers
We are increasing the LTV for Interest Only Borrowers from 65% to 75%. As a reminder our minimum income is £15,000 and minimum equity of £150,000 for borrowers using downsizing as an exit strategy.
We are also making some positive changes to our affordability model which should enable even more borrowers to access our second charge products.
PRODUCT WITHDRAWALS
- Lifetime Tracker Products (Second Charge Residential)
- BTL second charge loans over £75,000
These products will be withdrawn at 5pm on 13th November. We can continue to accept applications where a valid ESIS has been produced providing the mortgage offer is issued by Wednesday 31st December 2025.
Our latest product guide detailing all of these changes is available here.
Please contact our broker support team or your dedicated relationship manager if you would like to discuss any new business enquiries:
brokersupport@westoneloans.co.
0333 1234556