West One would like to share with you their NEWEST and Buy-to-Let RATE and CRITERIA UPDATES.
Buy-to-Let Product Updates
We are making changes to our 1st Charge Buy-to-Let fixed product range. The revised fixed rate product range will be available for selection on our broker portal from Monday 22nd July 2024.
The changes affect our Core and Complex product ranges.
A summary of some of the changes are noted below:
Product Changes:
- 2-year fixed rates now starting from 2.84%
- 5-year fixed rates now starting from 4.29%
- Standard 5-year fixed rate reduced by 5bps – 15bps
- Standard 2-year fixed rate, specialist 2-year fixed rate (Above next to Commercial) and Specialist 2-year fixed rate (Small HMO/MUFB) reduced by 20bps – 25bps
- Specialist 5-year fixed (Small HMO/MUFB)
- All W2 and W3 products reduced by 15bps and 10bps respectively
Criteria Changes (Core range ONLY):
- Increase maximum loan size to £3 million gross on standard and specialist product range
- Ability to do foreign national cases where borrower has no existing UK property. (LTV capped at 65% gross by referral)
- Ability to do expat cases where borrower has no existing UK property. (LTV capped at 70% gross by referral)