"The exposure increase, in particular, allows us to support larger scale portfolio landlords with their financing needs across a range of products"
From today, the lender will increase borrower limits from £1.5 million to £5 million. Current limits of £1,500,000 will remain where the applicant’s credit profile requires West One's W2 products which permit some minor credit blips.
West One is also opening up to larger houses in multi-occupancy (HMO) as part of the changes. It will now consider larger HMOs, of up to ten bedrooms, an increase from the previous limit of six bedrooms.
Andrew Ferguson, MD of buy-to-let at West One, said: “These criteria enhancements are really great news at the moment, with so much focus on the buy-to-let market and the potential opportunities out there.
“The exposure increase, in particular, allows us to support larger scale portfolio landlords with their financing needs across a range of products and we will be working closely with our intermediary partners to develop this market.
“Following so closely after the funding agreement announcement, it really shows how the business is making very positive steps with real intent to grow.
“Our buy-to-let offering is growing and being received really well in the market. We believe the blend of strong products and criteria, aligned with property sector expertise and a real commitment to customer service, should enable us to really support the sector this year.”
