The range starts at 3.54 per cent and is aimed at landlords wishing to buy or refinance a house in multiple occupation (HMO), a multi-unit block (MUB) or another specialist property.
West One said the deals come free of early repayment charges (ERC) and would suit landlords who believe interest rates will settle – or even fall – over the medium term but want the option to switch or refinance without penalty.
The lender said the launch followed the success of a similar ERC-free discounted tracker set for landlords with standard properties.
West One has also released two limited edition five-year fixed rates for its standard and specialist ranges.
The standard limited edition W1 five-year fixed rate product is priced at 4.59 per cent, has a 1.5 per cent arrangement fee and is available to landlords with standard properties.
West One’s limited edition W1 five-year fixed rate product is priced at 4.79 per cent, comes with a two per cent arrangement fee and is available to landlords with HMOs, MUBs and other specialist properties.
Rental calculation is available at pay rate for both of the new five-year fixed rate products.
Andrew Ferguson (pictured), managing director of West One’s buy to let division, said: “We are constantly reviewing our range and we believe that these new products offer compelling new options to brokers and their clients.
“We have experienced strong demand for our discounted tracker range, in particular, which is why we have decided to launch a set of products aimed at landlords buying specialist properties as well.”
He added: “While interest rates look set to continue rising, discounted trackers typically have lower rates than fixed-rate deals, so they will be suitable for landlords who want to keep an eye on costs but who also believe that interest rates will stabilise over the medium term.
“Add into the mix that there are no early repayment charges and we think it could be a very interesting proposition for many borrowers.”
