It also introduces new three-year fixes and a cashback offer
Specialist lender West One Loans has made enhancements to its residential mortgage range, cutting rates by up to 80 basis points (bps) and introducing new three-year fixes and a new cashback offer.
The lender’s latest rate reductions means that its Prime Plus, Prime Plus Flex, Prime, and Prime Flex ranges now start at 6.89%, 7.29%, 7.39%, and 7.89%, respectively.
Meanwhile, West One’s new three-year fixed rates – aimed at borrowers who want a balance between security and flexibility – start at 7.39%.
The specialist lender’s new cashback offer allows remortgage customers, excluding unencumbered and transfer of equity mortgages, to receive £500 to put towards legal fees upon completion. The cashback offer can be used in conjunction with West One’s fast-track remortgage service, which was designed to reduce completion times.
West One launched into the specialist residential market for the first time in October last year.
“It is fantastic to be able to announce, not just a series of major and sweeping rate cuts, but also some really positive additions to our residential range,” said Marie Grundy (pictured), managing director of residential mortgages and second charge at West One Loans.
“We said when we entered the residential mortgage market last year that we didn’t want to be also-rans but wanted to make a major impact on this area of the market with a competitive and varied range. I feel we have done that but, as always, there is plenty more to be done.
“Brokers can expect a lot more positive news from West One’s residential team over the coming weeks and months.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, Twitter, and LinkedIn.
