West One Loans has announced changes to its first charge buy-to-let fixed rate product range.

These include reductions to its standard five-year fixed rate of between 5bps and 15bps and cuts of between 20bps – 25bps on:

• Standard two-year fixed rate
• Specialist two-year fixed rate (above or next to commercial)
• Specialist two-year fixed rate (small HMO/MUFB)

There are also cheaper borrowing costs for the specialist five-year fixed rate on small HMOs/MFUB. Meanwhile, all W2 and W3 products have been reduced by 15bps and 10bps respectively and two-year fixed rates will now start from 2.84%, with five-year fixed rates starting from 4.29%.

West One has also announced criteria changes on its core range including increasing the maximum loan size to £3m gross on standard and specialist product range as well as more flexibility on applications on behalf of foreign nationals and expats.

Andrew Ferguson, managing director, buy-to-let at West One Loans, said: “I’m so pleased to be able to announce these changes to the market. At West One accessibility, flexibility and convenience are a crucial part of what we do day in, day out for our brokers and borrowers.

“Providing the most competitive, convenient and cost-effective products is always at the front our mind and with these latest rate reductions and changes in criteria we are living up to that ethos. In that spirit, we expect to be able to announce further product enhancement and offers for our customers in the not-too-distant future.”