West One Loans is set to reduce the rates on its buy-to-let (BTL) lifetime tracker product range. 

The lifetime tracker standard W1 product range has been reduced by 111 basis points to 2.99%. The range tracks bank base rate, currently 0.75%, with a margin of 2.24% and can be used on houses, flats and new build properties. 

Rates on the lifetime tracker specialist W1 product range have also been reduced, with a 96 basis point reduction with rates now starting at 3.24%. The lender has also introduced a new 80% loan to value (LTV) product.

The specialist range is designed to finance more complex transactions such as houses in multiple occupation (HMO) and multi-unit blocks (MUBs).  

West One Loans BTL division managing director Andrew Ferguson says: “These new reduced rates, combined with our flexible underwriting and quick decision-making will provide a compelling proposition for brokers and their clients.”