West One cuts rates and enhances criteria across buy-to-let range

West One Loans has announced a series changes to its first charge buy-to-let fixed rate product range, including reduced rates across its core and complex loans.

The move will include reductions to its standard five-year fixed rates of between 5bps and 15bps, as well as cuts of between 20bps and 25bps on standard and specialist two-year fixed rates.

There will also be cheaper borrowing costs for the lender's specialist five-year fixed rate on small HMOs/MFUBs. Meanwhile, all W2 and W3 products will reduce by 15bps and 10bps respectively, with two-year fixed rates now starting from 2.84% with five-year fixed rates from 4.29%.

As well as rate reductions, West One is also important criteria changes on its core range including increasing the maximum loan size to £3m gross on standard and specialist product range as well as more flexibility on applications on behalf of foreign nationals and expats.

Andrew Ferguson, managing director of buy-to-let at West One Loans, said: “I’m so pleased to be able to announce these changes to the market. At West One accessibility, flexibility and convenience are a crucial part of what we do day in, day out for our brokers and borrowers.

“Providing the most competitive, convenient and cost-effective products is always at the front our mind and with these latest rate reductions and changes in criteria we are living up to that ethos. In that spirit, we expect to be able to announce further product enhancement and offers for our customers in the not-too-distant future.”