West One launches 97.5% LTV residential and second charge range

West One has announced a series of changes across its full mortgage product range including second charge, buy-to-let and residential mortgages. 

Key changes include the introduction of a higher LTV product range for both second charge and residential mortgage customers, offering LTVs up to 97.5% without credit scoring, alongside up to 6.5 loan to income multiples as standard.

Remortgage customers are also eligible for the new high-LTV range, allowing capital raising remortgages for most legal purposes.

AVMs can also be used as alternative to full valuations up to 85% LTV for residential purchases, remortgages and second charges.

Rate reductions up to 0.30% have been applied across the lender's residential mortgage range. On core products (LTI up to 5x income), fixed rates now start from 5.39%. Rate reductions have also been implemented on the LTI Boost Range (for uncapped income multiples over 5x income), shared ownership, and Right to Buy products.

For buy-to-let mortgages, a new limited edition product range has been introduced with rates reduced by up to 15bps and fixed rates starting from 2.99%.

Maximum landlord portfolio sizes have been increased to £12m (up from £10m) and the limited edition product also includes AVMs up to 70% LTV, available for both buy-to-let purchases and remortgages.

These buy-to-let changes are available to individual landlords, limited company borrowers, portfolio landlords and first-time landlords.

Marie Grundy (pictured), managing director of mortgages at West One, commented: “These changes demonstrate our commitment to developing a compelling range of specialist lending products designed to meet the wide-ranging needs of residential mortgage customers, second charge borrowers and landlords. Our tailored approach to mortgage lending means our products can genuinely offer an alternative to the high street.

“By increasing maximum LTVs for AVM criteria, together with our innovative fast-track remortgage service, we’re also reinforcing our focus on speed and efficiency for both homeowners and property investors."