West One adds to their product range and criteria effective 26th January 2023. The new product range, along with supporting criteria, will be available to Key Partner firms on this day, initially on an exclusive basis.
DSCR is the number one challenge facing the BTL market. Base rate rises coupled with market volatility have shifted rates upwards of 5.5%. Average yields in the market are 5.4%, with yields in the southeast closer to 3%. Many properties are unable to leverage historic levels of borrowing, leaving many high-quality borrowers underserved with options. Borrowers are therefore left with limited options upon product maturity other than accept high reversion rates or inject personal cash into the transaction to facilitate the remortgage.
In order to help you and your clients meet this challenge we are introducing a range of 100% DSCR 5-year fixed products to finance the Purchase or Remortgage of Standard or Specialist property.
A summary of the new additions is noted below:
New Products
- New Limited Edition 100% DSCR 5-year fixed W1 Standard with rates starting from 6.09% with 5.0% fee
- New Limited Edition 100% DSCR 5-year fixed W1 Standard with rates starting from 6.59% with 2.5% fee
- New Limited Edition 100% DSCR 5-year fixed W1 Specialist with rates starting from 6.29% with 5.0% fee
- New Limited Edition 100% DSCR 5-year fixed W1 Specialist with rates starting from 6.79% with 2.5% fee
We are making some portal enhancements to accommodate these new products which should be live within the next couple of weeks. In the interim, please key your case as usual and contact our Broker Support Team on 0333 123 4556 to obtain any illustrations you require.