West One are delighted to announce some positive changes to the second
charge product range.
Key Highlights
Buy-to-Let Second Charge Product Refresh
They have overhauled the Buy-to-Let product range which includes the following changes:
- Improved Affordability for BTL borrowers which should result in significantly more landlords meeting our minimum DSCR requirements
- Increased LTV’s up to 75%
- Reduced pricing for 70% LTV products
- Increased Commission
- Maximum Loan Size will now be £75,000 across all LTV bandings
- Limited Edition Commission Increase
- Increased LTV’s for Interest Only Borrowers
They are increasing the LTV for Interest Only Borrowers from 65% to 75%. As a reminder the minimum income is £15,000 and minimum equity of £150,000 for borrowers using downsizing as an exit strategy.
They are also making some positive changes to our affordability model which should enable even more borrowers to access second charge products.
Can we help?
Just ask our team what we can do to support you and your clients
To discuss a case call 0330 127 0000
or email newbusiness@allmoneymatters.co.uk
Refer your case to us call 0330 127 0001
or email info@allmoneymatters.co.uk
