West One Loans’ buy-to-let arm has introduced automated valuation models and cut fixed-rate loans by up to 45 basis points.  

The specialist lender says the move to automated models will “streamline the application process” by using data from recent sales, property features, and market trends to generate property values. 

It adds that in principle offers can be made within 24 hours of receiving a decision, with no valuation fees. 

The new system is available on West One’s standard limited edition W1 product, on offers of up to 65% loan to value, with a maximum loan size of £500,000.  

However, the new model is unavailable for houses in multiple occupation, multi-unit blocks, flats, and new builds.  

The lender has also cut rates by up to 45bps for landlord products, with loans starting at 2.29%. 

West One Loans head of BTL Andrew Ferguson says: “By utilising the speed of automation, we’re eliminating the delays that can slow down some traditional standard valuations, empowering brokers to make decisions faster and give their clients improved access to timely offers.  

“By accelerating the assessment process, we’re giving brokers the confidence to close deals faster and with the rate reduction, at a better price.”