West One cuts residential mortgage rates by up to 0.25%

West One Loans has announced improved rates across its residential mortgage range.

Two-year fixed rates now start at 5.54% while five-year fixed rates start from 5.64%.

Among the improvements is a 20bps reduction on 75% LTV products, which replace the specialist lender’s 70% LTV products.

Rates on West One’s Right to Buy and shared ownership products have also improved, including no deposit options through its 100% LSV product.

On the lender’s Extra range, which offers LTIs up to 6.5x income, rates have been reduced up to 90% LTV, with no changes on the 95% LTV product and a minor rate increase on the 97.5% LTV product.

As part of the changes, West One has withdrawn all cashback products.

Marie Grundy, managing director of mortgages at West One, commented: “In the current market, we have identified an opportunity to reduce rates across our residential mortgages range and offer even more value to residential mortgage customers, whether they are purchasing, or remortgaging an existing home.

“We’re always looking for more ways to provide greater affordability and flexibility for residential customers whose needs are not met by high street lenders. In reducing these rates, we’re widening the opening in the door for many more current and prospective homeowners.”