West One Loans’ buy-to-let (BTL) division made a number of product and criteria changes, including reduced interest rates on its green range of products and limited edition loans.

The most important changes include reduced interest rates for 2- and 5-year fixed-rate loans in the green product area.

At 65% loan-to-value (LTV), the interest rates now start at 2.99% for a 2-year term (previously 3.04%) and include a product fee of 1.25%.

Accord introduces updated BTL range

There are also new limited edition large loan products for standard and apartment buildings (HMOs).

These start at 3.07% for a 5 year fixed rate with a 1.5% product fee and are available for loan sizes from £ 350,000 to £ 1 million for standard property types.

West One has launched a new limited edition large loan for HMOs and Multi-Unit Freehold Blocks (MUFBs) with up to six bedrooms.

This is a 5 year fixed rate product at 3.38% with a 1.75% product fee and is available on loan sizes from £ 350,000 to £ 1 million.

In addition to the new product and tariff changes, West One has also adjusted its criteria; New build properties with an LTV of up to 75% (previously 70%) are now taken into account without prior transfer.

Andrew Ferguson, Managing Director of Buy-to-Let at West One Loans, said, “These new products and rate changes support our drive to become the go-to option for buy-to-let brokers.

“Our continued focus on service delivery and sensible underwriting, aligned with these product changes, means we are well positioned to support our broker partners and their rental customers as they end the year.”