West One has overhauled its buy-to-let (BTL) mortgage range, together with the introduction of a bespoke BTL service for extra advanced instances, enhancements to credit score eligibility, company lets and standards for international nationals.
The lender’s bespoke BTL service incorporates a devoted staff of skilled underwriters to help portfolio landlords and property buyers with extra advanced borrowing necessities.
The staff may also work with middleman companions to create bespoke merchandise to offer tailor-made options for skilled landlords with particular necessities.
The modifications additionally see the introduction of discounted software charges for a number of mortgage purposes.
The new service will present tailor-made options for high-value loans as much as £15 million, portfolio purposes, giant HMOs and multi-unit blocks, improvement exits, offshore SPVs, and share buy agreements.
West One has additionally streamlined its BTL product range to incorporate a brand new small HMO/MUB range providing decrease pricing for properties with as much as three beds or models.
It has additionally lowered charges of curiosity throughout the range for international nationals, first time consumers, ex-pats, vacation lets and giant HMO/MUBs.
It has additionally broadened its credit score standards to make it simpler for landlords with less-than-perfect credit score to entry its merchandise.
Enhancements embrace elevated choices for debtors with unsecured arrears CCJs, defaults or mortgage arrears, alongside new choices for these with discharged IVAs and DMPs.
In addition, West One has added a collection of standards enhancements together with elevated loan-to-values (LTVs) as much as 80% for company let purposes.
Foreign nationals residing within the UK together with these debtors with expert employee or well being and care employee visas can now apply below their particular person names.
Maximum customary mortgage sizes have been elevated for giant HMO’s and MUBs, vacation lets, first time consumers and expats. The minimal property worth has additionally been lowered to £75,000.
West One managing director of mortgages Marie Grundy says: “This is essentially the most complete set of modifications now we have made to our BTL range thus far and represents a significant overhaul of our present product range.”
“The launch of our Bespoke Buy-to-Let Service will present our middleman companions with direct entry to a devoted staff offering a extremely responsive service who really perceive the wants of landlords with extra advanced necessities while being absolutely centered on delivering service excellence.”
“We have additionally taken the chance to revamp our total product range, providing a compelling range of choices for property buyers whether or not they’re part-time or skilled landlords.”
“Not solely will this new streamlined method make it simpler for our brokers to establish the fitting answer for his or her shoppers but additionally presents considerably decrease pricing and, importantly, an elevated variety of merchandise for landlords with lower than an ideal credit score rating.”
