West One would like to inform you of recent changes to their 1st Charge BTL fixed rate product range. These changes affect our Expat and Foreign National fixed rate product ranges.
Please see below product and criteria changes, we’d be delighted if you could share with your teams and members.
Highlights of our changes include:
Product changes:
- 25bps reduction on Expat 5-year fixed rate products, starting from 5.09%
- 45bps reduction on Foreign National fixed rate products, starting from 5.59%
Criteria change (Live Immediately):
- This change relates to all HMO/ MUBS products, including the Large HMO/ MUBS products
- Debts Service Coverage Ratio (DSCR) reduced from 135% to 125% for HMO/ MUBS (Applicable to Lower Rate Taxpayers and Limited Company Applicants)
- 140% still applies for Higher Rate Taxpayers
A wide range of fee options are available across the product range, which are product specific, ranging from 2.50% to 7.00%.
Full details are available in our new guide which gives you our updated product and criteria changes which can be accessed below: