West One Loans is launching a sub-5% buy-to-let five-year fix stressed at pay rate to help landlords achieve larger loan sizes.

The new deal is priced at 4.8% and has a 9.99% arrangement fee. It is stressed at pay rate, allowing landlords to achieve higher LTVs in a higher rate environment.

West One now has four fee categories – 2.5%, 4.99%, 7% and 9.99% – providing a wide range of options for borrowers.

Meanwhile, the specialist lender has also cut the majority of the products in its limited edition buy-to-let range by up to 38 basis points.

Following the reductions, West One’s limited edition five-year and two-year fixed rates start at 4.8% and 4.9%, respectively.

West One managing  director of buy to let Andrew Ferguson comments: “Given the pace at which rates have risen over the past 18 months, many landlords are finding they cannot achieve the loan sizes they want when they come to purchase or remortgage.

“That is why we have introduced a new fee band, at 9.99%, which allows us to offer a new highly competitive and much lower five-year fixed rate priced at 4.8%”.

Ferguson adds: “The lower rate combined with the fact we will stress this deal at pay rate means landlords without the required levels of capital can still achieve the LTV they need”.