It reduces rates by up to 100bps
Specialist lender West One Loans has slashed product rates by up to 100 basis points (bps) across its range of limited edition fixed rate mortgages for landlords.
The rate of a five-year fixed rate product in the W1 limited edition range now starts at 5.45% for landlords with standard properties, and 5.54% for those with specialist properties. The equivalent two-year fixed rate products both start at 5.50%.
For non-portfolio landlords or those with three or less properties, rates for a two- and five-year fix start from 5.39% and 5.40% respectively.
“We are moving quickly to pass on these rate reductions as the outlook for inflation and swap rates begins to improve,” said Andrew Ferguson (pictured), managing director of the buy-to-let division at West One Loans. “The market has been through a tumultuous period, and it has made life difficult for landlords, intermediaries, and lenders alike.
“We are very pleased to be back in a position to reduce our rates and to offer landlords a more competitive range of lending options. The strength of the business coupled with its flexible, responsible approach to lending is what makes this possible. Whatever the market has in store, we will be here to support landlords as much as we can.”
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