The lender has reduced residential mortgage rates by 0.55% and BTL pricing by 0.3%. Residential mortgage rates now start at 6.04%, while two-year fixed BTL rates begin at 3.69% and five-year fixes from 4.39%.
West One has also updated its shared ownership offering with the introduction of Premier and Platinum ranges for borrowers with stronger credit profiles who may fall outside high street lending criteria.
The lender has removed 90% loan to share value (LSV) and will remain lending at 95% and 100% LSV. The range also now offers a free valuation option.
Further, West One has extended its LTI Boost product to interest-only borrowing up to 75% loan to value (LTV). Elsewhere, the lender has amended criteria for self-employed contractors registered under the Construction Industry Scheme (CIS), now enabling them to evidence income using the latest three months’ payslips, invoices or statements alongside SA302s and tax year overviews.
Other changes include its criteria for family concessionary purchase options, enabling the borrowing of up to 100% of the discounted purchase price, as long as the loan does not exceed 80% LTV. This is alongside existing criteria, which allows borrowing up to 95% of the discounted purchase price up to the maximum plan LTV.
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Further, West One will now accept e-signatures on BTL mortgage deeds across first and second charge lending, aiming to streamline the completion process.
Marie Grundy, managing director of mortgages at West One, said: “These changes reflect our continued focus on delivering a highly flexible and timely lending proposition.
“By reducing rates and broadening our criteria across both residential and BTL products, we are supporting a wider range of borrowers. Our aim is to ensure brokers have the tools they need to place both simple and complex cases quickly and efficiently in a changing market.”
Landbay cuts Premier remortgage rates
Landbay has reduced rates across its remortgage options in its Premier range.
The standard product range is open to landlords with up to 15 mortgaged properties, including individual and limited company borrowers.
This includes changes to its five-year fixes at 75% LTV, which offer variable fees, automated valuation models (AVMs), and fixed-fee assisted legals or cashback with free valuation.
The rates on the AVM remortgages have been lowered by 0.05%, while the assisted legal and cashback ranges have been cut by 0.1%.
This includes its Premier remortgage AVM product, priced at 4.64% with a 5% fee, and 5.44% with a 1% fee.
Its Premier remortgage assisted legals with free valuation product now starts at 5.59%, with different fee levels at varying loan sizes, beginning from a £999 fee up to £100,000 and £1,999 up to £750,000.
The Premier remortgage cashback deal with free valuation is priced at 5.59%, and also has different fees for various maximum loans, starting at £899 up to £150,000 and £1,899 up to £1m.
Rob Stanton, sales and distribution director at Landbay, said: “In the current market, brokers are continuing to see strong remortgage demand from landlord clients looking to manage costs, refinance efficiently and plan ahead with greater certainty. These latest reductions across our Premier remortgage products are intended to support that activity with a broader choice of competitive options.
“By cutting rates on our AVM, cashback, and assisted legals products, we are offering advisers more flexibility when placing remortgage business, whether the priority is lower pricing, reduced upfront costs or a smoother application and valuation process.
“Our focus remains on providing practical buy-to-let product solutions backed by strong service, clear product structures and the support needed to place business confidently in a market that remains active and price-sensitive.”
