Changes include the launch of a 75 per cent loan to value (LTV) limited edition product, with a five-year fixed payrate, for loan sizes between £150,000 and £750,000. This is being added to the Standard W1 range.
The product will be priced at 3.19 per cent with a 1.5 per cent fee, restricted to three loans per applicant. It will not be available on new builds.
There is also a limited edition product for small homes in multiple occupancy (HMO) and multi-unit freehold block (MUFB) properties, also with a five-year fixed rate and £750,000 maximum loan size. This is being added to the Specialist W1 range and has a rate of 3.49 per cent with a two per cent fee.
As part of the changes, the Standard W1 product range is being re-priced with reductions of up to 20 basis points as well as fee reductions of 50 basis points on some of the five-year fixes.
Specialist W1 HMO/MUB product rates have also been reduced by up to 15 basis points with rates starting from 3.44 per cent with a 1.5 per cent fee.
The lender has also updated its holiday let and expat range. The five-year fixed short-term let product has been cut by 10 basis points to 4.09 per cent and the five-year fixed expat deal has been cut by 25 basis points to 3.84 per cent.
West One Loan has also made changes to its criteria, by raising the maximum LTV on its expat range from 70 per cent to 75 per cent. The same change has also been made to the short-term and holiday let product which is also available on MUFB properties.
The lender has withdrawn some products, such as the limited edition deal for small HMO and MUFB which was a five-year fixed rate product priced at 3.59 per cent. A limited edition standard five-year fixed rate deal with a rate of 3.14 per cent has also been pulled.
Andrew Ferguson (pictured), managing director for West One buy-to-let division, said: “We’re making these changes today in response to a busy buy-to-let market, where we’ve been able to expand our distribution this year and enable more brokers and clients to benefit from the strength of our proposition.
“Our continued focus on service delivery aligned with these rate changes mean we are well placed to support our broker partners and their landlord clients as we move towards the end of the year.”