The lender has launched a new Prime residential tier offering lending up to 90% LTV for borrowers with minor historical or recent adverse credit. The products are available to first-time buyers, homemovers and remortgage customers, with loan-to-income (LTI) multiples of up to 6.5 times.
West One has also increased maximum loan sizes across its Extra Residential range. Borrowing of up to £1m is available at 85% LTV on Premier Extra and Platinum Extra products.
Within its second charge range, the lender has increased maximum loan sizes to £900,000 on selected products. Furthermore, West One expanded AVM criteria to accept lower confidence levels up to 75% LTV.
West One also launched a new Near Prime Extra product for second charge borrowers with a broader range of adverse credit profiles.
Marie Grundy (pictured), managing director of mortgages at West One, said: “These enhancements are all about removing unnecessary barriers for borrowers and giving brokers greater flexibility. Larger loan sizes at higher LTVs mean more clients can access our Extra product ranges, while our updated credit criteria recognise that an isolated financial blip shouldn’t define an otherwise strong borrower.”
She added: “Combined with broader AVM criteria to help speed up completions, these changes reinforce West One’s commitment to supporting the modern borrower. We understand that life doesn’t always follow a straight line, and our role is to provide mortgage lending solutions that reflect this.”
