West One product changes

Apex 1 – Return of 85% LTV Products & Major Pricing Reductions

• 85% LTV products now available for Apex 1 borrowers (Max Gross Loan Size £50,000)

• Up to 1.35% reductions applied across the entire Apex 1 product range with rates now starting from 5.15%

Simplified approach to CCJ’s, Defaults and Unsecured Credit

We are making some positive changes to our policy relating to CCJ’s and Defaults.

• We will now disregard all unsatisfied CCJ’s and Defaults up to the value of £500 across all plans (previously £350) for plan assessment purposes across all residential and BTL second charge products

• For Apex 1 and second charge BTL products we have simplified our criteria. For plan assessment purposes we will now allow unsatisfied CCJ’s and Defaults over £500 if over 12 months old (previously 24 months).

• Unsecured credit under £500 (previously £350) will now be disregarded for plan assessment purposes but will be included within the affordability assessment.