The range is open to first-time buyers, home movers, and remortgage customers
Specialist lender West One Loans has relaunched its Platinum residential range, with lifetime trackers which come without early repayment charges.
Aiming to support borrowers with stronger credit profiles who want flexibility, the lender relaunched the range which now contains two-year fixed rates starting at 7.1% and lifetime trackers starting from 2.49% above bank base rate.
West One said the range was best suited to borrowers looking for payment stability for a shorter period or those who expected interest rates to fall during their mortgage term.
The Platinum range, it added, was designed for borrowers with good credit histories while allowing for minor credit blips. It was also available to borrowers who have had historic county court judgments (CCJs) and defaults over 24 months old.
❗ We have exciting NEWS - PLATINUM PRODUCTS ARE BACK!!!
— West One Loans (@westoneloans) October 12, 2023
👉 From today our platinum product range is officially back. Highlights:
🔹 2 Year Fixed Rates starting from 7.10%
🔹 BBR Lifetime tracker products (without ERC's) starting from 7.74% (2.49% above BBR)
These products are… pic.twitter.com/eZ6AOgf1Sa
The range, which is open to first-time buyers, home movers and remortgage customers, sits alongside the lender’s Prime Plus, Prime, and Near Prime product sets.
The reintroduction follows the lender’s recent launch of a series of three-year fixed rates aimed at borrowers looking to fix for the mid-term.
“There is plenty of uncertainty surrounding the future path of interest rates at the moment, and a lot of borrowers are asking themselves if they are doing the right thing by locking into a long-term deal,” commented Marie Grundy (pictured), managing director of residential mortgages and second charge at West One Loans.
“We know from our regular conversations with brokers that they have a lot of clients wrestling with this dilemma. Therefore, we’ve aimed to make our newly relaunched Platinum as flexible as possible for borrowers.
“Our excellent relationship with brokers means we can listen, learn, and react quickly when they tell us of emerging trends in the market. This is another example of that.”
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