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West One launches discount two-year BTL tracker

  • 07/07/2022
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West One launches discount two-year BTL tracker
West One Loans has released a two-year discount tracker mortgage for buy-to-let borrowers with no penalty for an early exit.

The product is priced at 3.29 per cent and available up to 80 per cent loan to value (LTV). The lender’s reversion rate is currently 4.99 per cent plus the base rate.  

The deal is available to landlords with a clean credit profile, and first-time landlords are also eligible. 

There are no minimum income requirements for first-time landlords and they must own their own home. 

The maximum loan size available on the mortgage is £2m.  

Additionally, West One has launched lifetime tracker products within its W1 for both standard and specialist cases, with rates beginning from 3.64 per cent. Terms of either two or five years are available. 

Andrew Ferguson (pictured), managing director of West One’s buy-to-let division, said: “While interest rates look like they are only going one way – up – nobody can know for sure. A year ago, nobody would have predicted inflation would be close to double-digits and interest rates would be north of one per cent, 

“The feedback we have had from brokers suggests there are still plenty of borrowers out there who believe that rates will settle – or even fall – over the medium-term and therefore want the flexibility that a discounted tracker deal offers.” 

He added: “That is why we have launched this deal today, and we will continue to evolve our buy-to-let range so it is in tune with the needs of brokers and their clients. 

“What’s more, applicants will continue to benefit from our speed, our flexible underwriting and expertise, which is why brokers keep coming back to us.” 

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