West One Loans’ buy-to-let (BTL) division has introduced a range of products with reduced rates, as well as fee reductions on selected products.

Among the changes is a new 75% loan-to-value (LTV) limited edition product, with a 5-year fixed payrate, for maximum loan size of £750,000 (minimum £150,000) which is being added to the Standard W1 range.

This will be priced at 3.19% with a 1.5% fee, restricted to three loans per applicant, but not available for new-builds.

There is also a new limited edition product for small houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs), also with a 5-year fixed rate and £750,000 maximum loan size, being added to the Specialist W1 range. This will be priced at 3.49% with a 2% fee.

As part of the changes, the Standard W1 product range is being repriced with reductions of up to 20 basis points (bps) as well as fee reductions of 50BPS on most of West One’s 5-year fixed standard range

Specialist W1 (HMO/MUB) product rates have also been repriced with reductions of up to 15bps, with rates starting from 3.44% with a 1.5% fee.

There are also changes in the holiday let and expat range, with the short-term let product pricing being reduced by 10bps to 4.09% on a 5-year fixed basis, and the ex-pat product reduced by 25bps to 3.84%, also on a 5-year fixed basis.

In terms of criteria changes, the expat range maximum LTV has increased to 75%, up from 70% previously.

Similarly, the maximum LTV on the short-term or holiday let product has been increased to 75%, also up from 70%, and will also be available for MUFB properties considered within this range.

A number of products have been withdrawn as part of the changes, including the current limited edition product (3.14%, 5-year fixed), the current standard and specialist range products and the current limited-edition for Small HMO/MUFB – 3.59%, 5-year fixed.

Andrew Ferguson, managing director for West One buy-to-let division, said: “We’re making these changes today in response to a busy buy-to-let market, where we’ve been able to expand our distribution this year and enable more brokers and clients to benefit from the strength of our proposition.

“Our continued focus on service delivery aligned with these rate changes mean we are well placed to support our broker partners and their landlord clients as we move towards the end of the year.”