"We’ve been able to expand our distribution this year and enable more brokers and clients to benefit from the strength of our proposition."
Among the changes is a new limited edition five-year fixed rate at 3.19% up to 75% LTV, which is being added to the Standard W1 range. The product comes with a 1.5% fee, restricted to three loans per applicant, but not available for new builds.
There is also a new limited edition product for small HMO/MUFB properties, fixed for five years at 3.49% with a 2% fee.
As part of the changes, the Standard W1 product range is being re-priced with reductions of up to 20bps as well as fee reductions of 50bps on most of its five-year fixed standard range.
Specialist W1 (HMO/MUB) product rates have also been re-priced with reductions of up to 15bps with rates starting from 3.44% with a 1.5% fee.
There are also changes in the holiday let and expat range with a short term let product being reduced by 10bps to 4.09% on a five-year fixed basis, and the expat product reduced by 25bps to 3.84%.
In terms of criteria changes, the expat range maximum LTV has increased to 75%, up from 70% previously. Similarly, the maximum LTV on the short term/holiday let product has been increased to 75% and will also be available for MUFB properties considered within this range.
A number of products have been withdrawn as part of the changes and are no longer available, including the current limited-edition product (3.14%, five-year fix), the current standard and specialist range products and the current limited-edition for small HMO/MUFB.
Andrew Ferguson, managing director for West One's buy-to-let division, said: “We’re making these changes today in response to a busy buy-to-let market, where we’ve been able to expand our distribution this year and enable more brokers and clients to benefit from the strength of our proposition.
“Our continued focus on service delivery aligned with these rate changes mean we are well placed to support our broker partners and their landlord clients as we move towards the end of the year.”
