West One Loans has launched new a buy-to-let offering, with reduced pricing on a selection of products.
The new range includes a new 80% LTV product, a limited edition five-year fixed product, and a return to the short-term let and expat markets.
The 80% LTV product has been added to the Standard Range, with a maximum loan size of £250,000. The 80% is only available for purchases, with rates starting from 4.04%.
In addition, there is a new 75% LTV limited edition production the Standard Range. Maximum loan size is £500k for properties of up £750,000 and is priced at 3.44%.
Prices have been reduced by 10 basis points for the specialist HMO/MUB range, with rates now starting from 3.54%.
In addition, West One is re-entering the short-term holiday let and expat markets this year, which will initially be distributed on a semi-exclusive basis through some key packager partners.
Meanwhile, the current limited edition product range (65% and 70% LTV) is being removed as part of these changes.
As well as the new products, West One is also announcing criteria change for its new build loan offering, which will be restricted to a maximum 65% LTV, down from 75% LTV.
Andrew Ferguson, managing director of West One Loans’ buy-to-let division, said: “Today we are pleased to confirm some exciting new products as part of our plans to expand our buy-to-let range in 2021. It may be an uncertain period just now with the lockdown in place, but there is also lots of optimism looking ahead to the rest of the year.
“With the launch of these new products we’re able to offer more choice to the intermediary market and enable them to take full advantage of the opportunities for the specialist sector with a range of products to cater for wide-ranging needs.
“From first-time landlords through to portfolio landlords, whether they need a competitive rate for a standard property or need to fund a more niche transaction in the current market – such as holiday lets – we are here to support.”