West One has unveiled the most extensive overhaul of its buy-to-let mortgage range since its launch in 2019, introducing a new bespoke service aimed at complex cases and simplifying the wider product line.

At the centre of the changes is the Bespoke Buy-to-Let Service, designed to support portfolio landlords and property investors with more intricate borrowing needs.

The service gives access to a dedicated team of senior underwriters who will manage cases from application through to completion, liaising with legal partners and brokers to deliver customised solutions.

The lender said the initiative would cater for high-value loans of up to £15m, portfolio applications, large HMOs and multi-unit blocks, development exits, offshore SPVs and share purchase agreements. It is also offering discounted application fees for multiple loan applications.

STREAMLINED PRODUCT RANGE

West One has restructured its buy-to-let range to make it easier for brokers to navigate, while retaining competitive pricing. The new line-up includes a small HMO and multi-unit block category offering reduced rates for properties with up to three bedrooms or units.

Rates have also been cut across products for foreign nationals, first-time buyers, expatriates, holiday lets and larger HMOs.

Credit criteria have been widened, with more options available to borrowers who have a history of unsecured arrears, CCJs, defaults or mortgage arrears. Products are now also open to those with discharged IVAs and debt management plans.

Other changes include higher maximum loan-to-values of up to 80% for corporate lets, and the extension of eligibility to foreign nationals in the UK on Skilled Worker or Health and Care Worker visas.

Loan size limits have been raised for large HMOs, multi-unit blocks, holiday lets, first-time buyers and expatriates, while the minimum property value has been reduced to £75,000.

COMMITMENT TO FLEXIBILITY

Marie Grundy (pictured), managing director of mortgages at West One, said: “This is the most comprehensive set of changes we have made to our buy-to-let range to date and represents a major overhaul of our current product range.

“The launch of our Bespoke Buy-to-Let Service will provide our intermediary partners with direct access to a dedicated team providing a highly responsive service who truly understand the needs of landlords with more complex requirements whilst being fully focused on delivering service excellence.

“We have also taken the opportunity to redesign our entire product range, offering a compelling range of options for property investors whether they are part-time or professional landlords.

“Not only will this new streamlined approach make it easier for our brokers to identify the right solution for their clients but also offers significantly lower pricing and, importantly, an increased number of products for landlords with less than a perfect credit score.”