Specialist lender West One Loans has implemented a series of rate reductions across its first charge residential and buy-to-let (BTL) mortgage ranges, alongside the launch of a new cashback incentive for remortgage customers.

For residential mortgages, 2-year fixed rates have been cut by up to 30 basis points, with pricing now starting from 5.69%.

And 5-year fixed rates below 85% LTV have been reduced by 15 basis points, now starting at 5.74%. These changes form part of an ongoing refinement of West One’s residential mortgage offering, aimed at enhancing broker competitiveness in a shifting interest rate environment.

CASHBACK DEAL

In parallel, West One has unveiled a new remortgage-specific product featuring a £1,000 cashback incentive.

This 5-year fixed rate offering is available on loans starting from £75,000 and is designed to help mitigate upfront costs for borrowers, particularly in relation to stamp duty surcharges and remortgage-related expenses.

The lender has also introduced a new Extension of Valuation Refund initiative, applicable across all LTV tiers and product types.

This product is available on both 2- and 5-year fixed terms and offers remortgaging clients fee-free options. Customers also gain access to West One’s fast-track remortgage service, which supports next-day completions.

BUY-TO-LET REPRICING

West One’s first charge BTL range has also been repriced, with cuts of up to 60 basis points on selected 2-year and 5-year fixed rate products. Rates in this segment now start from 1.69%. The reductions aim to support brokers in sourcing more competitive solutions for landlords, particularly in light of anticipated regulatory and economic changes affecting the private rental sector.

The revised residential first charge rates will be available via the West One broker portal from 5:00 PM on Wednesday, 16 April 2025. The new £1,000 cashback remortgage product and updated BTL rates are already live and accessible to intermediary partners.

BROKER SUPPORT

Paul Huxter, West One’s Head of Intermediary Sales & Distribution, says, “We recognise the importance of agility in the current environment. The reduced residential rates and new product launches are designed to support brokers in offering greater choice and value to a broader spectrum of clients.”

And he added: “We’ve seen a growing need to equip brokers and landlords with financing solutions that help them stay ahead of legal and regulatory changes. We know landlords are navigating a complex and shifting landscape, and we’re responding with pricing that strengthens their ability to invest with confidence.”