West One slashes rates on buy-to-let lifetime tracker range

It aims to provide a more compelling proposition for brokers and their clients

West One slashes rates on buy-to-let lifetime tracker range

Specialist lender West One Loans has reduced rates on its buy-to-let lifetime tracker product range, the largest of which is on the Lifetime Tracker Standard W1 product range, which has been cut by 111 basis points to 2.99%.

This range tracks bank base rate with a margin of 2.24% and can be used on houses, flats and new build properties.

Rates on the Lifetime Tracker Specialist W1 product range have also been reduced, with a 96-basis point reduction. Rates now start at 3.24% and there has also been a new 80% loan to value product added. The specialist range is designed to finance more complex transactions such as houses in multiple occupation (HMO) and multi-unit blocks (MUBs).

Andrew Ferguson, managing director of the buy-to-let division at West One Loans, said that the new reduced rates, combined with flexible underwriting and quick decision-making, will provide a compelling proposition for brokers and their clients.

“While price is a factor, the depth of the West One proposition combined with speed, certainty and expertise is why brokers come to us. We underwrite manually so that we can say ‘yes’ to more deals, and we are trusted by intermediaries and property professionals to get the deal done,” Ferguson said.

“Those investing in rental properties have been increasingly looking for specialist buy-to-let products, and as we specialise in HMOs and MUBs we are well placed to offer finance to both new, and experienced landlords,” he added.

These rate reductions follow recent additions to West One’s underwriting and completion case management teams and the appointment of a new national account manager to develop relationships with a diverse range of brokers.