Second Charge Lending
West One Loans reintroduces two-year fixed second charges
West One Loans has relaunched two-year fixed options to its second charge mortgage range and reduced rates on its five-year fixed rates.
For residential borrowers, pricing on two-year fixes begins from 7.89 per cent while rates for buy-to-let start from 8.64 per cent.
Across its five-year fixed rates, prices will begin from 7.54 per cent for residential borrowers, down from 8.99 per cent and 8.29 per cent for buy-to-let, down from 9.69 per cent.
These changes follow the lender’s recent launch into the residential market, with five-year fixed rates starting from 6.95 per cent.
Marie Grundy (pictured), managing director of residential mortgages and second charges at West One Loans, said: “We’re very pleased to be able to introduce some major enhancements to our second charge range. The reintroduction of two-year fixed rate products will give intermediaries and their clients even greater choice and flexibility.
“We have also taken the opportunity to review the pricing of our five-year fixed rates allowing us to make significant pricing reductions, which will create more opportunities for borrowers to access second charge products.”
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She said the lender’s aim to was continue giving borrowers a “comprehensive” range of products and to do this, it regularly reviewed its offering and services.
Grundy added: “We are committed to supporting intermediaries and mortgage customers thorough more challenging times and we will be working hard to ensure we are able to offer a compelling specialist lending proposition.”