West One Buy to Let changes  - 02/09/2021 09:11

West One Buy to Let changes

A summary of the changes is noted below:

  • NEW 75% LTV limited edition, 5-year fixed payrate, £750k max loan size product being added to our Standard W1 range – priced at 3.19% with a 1.5% fee. Minimum loan size of £150k on this product and restricted to 3 loans per applicant. Not available for new builds.
  • NEW Limited Edition (Small HMO/MUFB) – 5-year fixed rate, £750k max loan size product being added to our Specialist W1 range – priced at 3.49% with a 2% fee.
  • Standard W1 product range re-priced with reductions of up to20bps across the range as well as fee reductions of 50bps on most of our 5-year fixed Standard range - rates start from 3.04% with 1.5% fee.
  • Specialist W1 (HMO/MUB) product range re-priced with reductions of up to 15bps - rates start from 3.44% with a 1.5% fee.
  • Short Term Let product pricing reduced by 10bps to 4.09% on a 5-year fixed basis.
  • Ex-pat product reduced by 25bps to 3.84% on a 5-year fixed basis.

The following products are being withdrawn or replaced and will no longer be available for new submissions from close of business on Wednesday 1st September.

  • Current limited edition product range (3.14%, 5 year fixed).
  • Current Standard and Specialist range products.
  • Current limited edition (Small HMO/MUFB - 3.59%, 5 year fixed).

Criteria Changes

  • Ex-pat range maximum LTV increased to 75% LTV (previously 70%)
  • Maximum LTV on Short Term Let/Holiday Let product increased to 75% LTV (previously 70%) and MUFB properties considered within this range.
  • New Builds considered to 70% (previously 65%)
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