Specialist lender West One has introduced a wide-ranging overhaul of its mortgage portfolio, with major enhancements across residential, second charge and buy-to-let products.
The changes include a new high-LTV range with loans up to 97.5% LTV and loan-to-income multiples up to 6.5 as standard, all without credit scoring.
Remortgage customers will also benefit from the high-LTV products, with capital raising permitted for most legal purposes.
Additionally, automated valuation models (AVMs) are now available up to 85% LTV for residential purchases, remortgages and second charges.
The lender has also reduced rates by up to 30 basis points on its residential mortgage range.
Core products now start from 5.39%, while the LTI Boost range, Shared Ownership and Right to Buy products have also seen reductions.
In buy-to-let, West One has launched a new Limited Edition product range with rates starting from 2.99% and reductions of up to 15bps.
Maximum landlord portfolio limits have increased from £10m to £12m, and AVMs are now permitted up to 70% LTV on both purchases and remortgages.
These products are open to individual, limited company, portfolio and first-time landlords.
Marie Grundy, managing director of mortgages at West One, said: “These changes demonstrate our commitment to developing a compelling range of specialist lending products designed to meet the wide-ranging needs of residential mortgage customers, second charge borrowers and landlords.
“Our tailored approach to mortgage lending means our products can genuinely offer an alternative to the high street.
“By increasing maximum LTVs for AVM criteria, together with our innovative fast-track remortgage service, we’re also reinforcing our focus on speed and efficiency for both homeowners and property investors.”
