The largest reduction is on its Lifetime Tracker Standard W1 product range, which has been reduced by 111 basis points to 2.99%. This range tracks bank base rate, currently 0.75%, with a margin of 2.24% and can be used on houses, flats and new build properties.
Rates on the lender's Lifetime Tracker Specialist W1 product range - designed for more complex transactions, such as HMOs or multi-unit blocks - have also been reduced, with a 96 basis point reduction. Rates now start at 3.24% and there has also been a new 80% loan to value product added.
Andrew Ferguson, managing director of the buy-to-let division said:
“These new reduced rates, combined with our flexible underwriting and quick decision-making will provide a compelling proposition for brokers and their clients.
“While price is a factor, the depth of the West One proposition combined with speed, certainty and expertise is why brokers come to us.
“We underwrite manually so that we can say yes to more deals and we are trusted by intermediaries and property professionals to get the deal done."
“Those investing in rental properties have been increasingly looking for specialist buy-to-let products, and as we specialise in HMOs and MUBs we are well placed to offer finance to both new, and experienced landlords.”
