West One Loans has made changes to its first charge buy-to-let (BTL) fixed rate product range, reducing across its core and complex loans.
The move will include reductions to its standard 5-year fixed rate of between 0.05% and 0.15% and will also see cuts of between 0.20% and 0.25% on standard 2-year fixed rates, specialist 2-year fixed rates (above or next to commercial) and specialist 2-year fixed rate for small houses in multiple occupation (HMO) or multi unit freehold-block (MUFBs).
There will also be cheaper borrowing costs for the specialist 5-year fixed rate on small HMOs MUFB.
Meanwhile, all W2 and W3 products will reduce by 0.15% and 0.10% respectively and 2-year fixed rates will now start from 2.84% with 5-year fixed rates starting from 4.29%.
West One also made criteria changes on its core range, including increasing the maximum loan size to £3m gross on standard and specialist product range as well as more flexibility on applications on behalf of foreign nationals and expats.
Andrew Ferguson (pictured), managing director of buy-to-let at West One Loans, said: “I’m so pleased to be able to announce these changes to the market.
“At West One accessibility, flexibility and convenience are a crucial part of what we do day in, day out for our brokers and borrowers.
“Providing the most competitive, convenient and cost-effective products is always at the front our mind and with these latest rate reductions and changes in criteria we are living up to that ethos.
“In that spirit, we expect to be able to announce further product enhancement and offers for our customers in the not-too-distant future.”
