Its two-year fixed rates now start at 5.54%, and five-year fixed rates from 5.64%. West One has also lowered pricing on its 75% loan-to-value (LTV) mortgages by 0.2% and the range will replace its 70% LTV options.
Rates on its Right to Buy and shared ownership products have also been reduced, including no-deposit options through its 100% loan to share value (LSV) product.
Across West One’s Extra range, which offers loan-to-income (LTI) ratios up to 6.5 times income, pricing has been reduced on options up to 90% LTV, and a small change has been made to its 97.5% LTV product. Pricing on its 95% LTV product remains the same.
Further, West One has withdrawn all products with cashback.
Marie Grundy, managing director of mortgages at West One, said: “In the current market, we have identified an opportunity to reduce rates across our residential mortgages range and offer even more value to residential mortgage customers, whether they are purchasing or remortgaging an existing home.
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“We’re always looking for more ways to provide greater affordability and flexibility for residential customers whose needs are not met by high street lenders. In reducing these rates, we’re widening the opening in the door for many more current and prospective homeowners.”
Roma Finance releases BTL mortgage in Scotland
Roma Finance has launched a buy-to-let (BTL) offering in Scotland, building on its existing presence in England and Wales.
The specialist lender already provides bridging and development finance in Scotland and will offer BTL funding to landlords and property investors in the country for the first time.
Loans of up to £750,000 will be available up to 75% LTV, and lending will be open against standard BTL properties, portfolios, houses in multiple occupation (HMOs), and multi-unit freehold blocks (MUFBs).
The BTL product also allows top slicing.
Additionally, Roma Finance is introducing its revolving credit facility (RCF) in Scotland, with loans of up to £750,000.
The RCF launched in England and Wales last year, and the lender said it was popular with brokers and borrowers. It gives approved borrowers access to a pre-agreed credit limit for onward property purchases, which they can draw down, repay, and reuse as needed.
Sonia Mann, head of sales at Roma Finance, said: “Scotland has always been an important market for us, so it makes sense to expand our buy-to-let offering here. We already work closely with brokers and developers, and this launch means we can do more to support landlords and investors.
“By lending up to 75% LTV across different property types, and offering top slicing where it helps, we give brokers the ability to keep deals moving in a tricky market. It’s about practical, flexible lending from people who know the local market.”
