West One have some important news about pricing and changes to their product range. Due to the rising interest rate environment, they are withdrawing their existing product range with immediate effect. A revised product range will be available for selection on their broker portal from Wednesday 16th February 2022.
A summary of the changes is noted below:
Withdrawal of the following products:
- 2.99% 5 year fixed Limited edition Standard range
- 3.29% 5 year fixed HMO/MUB Limited edition specialist product
- All 2 year fixed rate products
Repricing of the following products:
- 5 year fixed standard range – up to 30bps
- 5 year fixed specialist range – up 25bps
- 5 year fixed Green range – up to 55bps
- 5 year fixed Short Term Let product – up to 20bps
- 5 year fixed Expat products – up to 20bps
- 5 years fixed Large HMO/MUB product – up 20bps
- 5 year fixed W2 standard product range – up 30bps
- 5 year fixed W2 specialist product range – up 25bps
View their new Product Guide here.
Any case that has been offered can proceed on the existing product provided it completes by the offer expiry date.
For applications received which are not yet at offer stage, you will need to select a new product from the revised range (available tomorrow) unless the case is on one of the products listed below which can proceed as normal:
- Holiday let
- Large HMO
Where an application is submitted with basic documents and fees paid, West One will endeavour to review and provide an initial needs list within 48 hours. They continue to seek your assistance in submitting quality applications including their minimum packaging requirements using their case submission checklist.
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 123 4556 or email btlbrokersupport@westoneloans.