West One has made a series of amendments to its second charge product rates.

Highlights of the product changes for ‘Apex 0’ include the introduction of its lowest ever 5-year fixed rate from 4.05%, with 75% LTVs rates also reduced by up to 0.30% starting from 4.65%.

Meanwhile, loan sizes have increased from £150,000 to £250,000 up to 70% LTV on the Apex 0 plan.

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In addition, the lender now only requires a minimum mortgage history of 12 months reduced from 24 months.

Rate reductions have also been applied across the range, including Apex 1 rates, which have been cut across all LTVs up to a maximum 75%, starting from 5.55%, previously 5.85%.

Buy-to-let second charge rates have also been reduced across the LTV range at maximum 75%, starting from 5.99%, previously 6.49%.

Furthermore, West One will now take applications from borrowers working on zero hours contracts and DSS tenants will also be accepted on its second charge buy-to-let range.

Marie Grundy, managing director of second charges at West One, said: “We have made some extremely positive changes to our second charge range of mortgages, which not only offer borrowers access to lower rates of interest but are also designed to vastly improve the customer journey.

“This will serve to reduce the time it takes for applications to reach offer stage.

“These changes reflect our commitment to continuing to support the second charge market by providing broker partners with an even more compelling second charge proposition.

“With more firms and customers adapting to more fluid working arrangements we are confident these changes will help to provide greater flexibility when dealing with West One.”