West One Loans has rejigged the criteria and rates for its buy-to-let and second charge products.

BTL products have had the maximum LTV allowed increased from 70 per cent to 75 per cent, while the maximum loan size has also received a boost, from £750,000 to £1m.

With a 0.65 per cent rate cut, residential products in this category now start at 3.59 per cent and specialist at 3.79 per cent.

Regarding second charge mortgages, the maximum loan size is now £125,000 with LTVs of up to 70 per cent and the prime plan Apex 0 is back, with rates from 3.99 per cent.

Further changes see self-employed borrowers now needing a minimum trading period of two years rather than three and borrowers who have recently finished with a payment holiday or have been on furlough able to access products at up to 65 per cent LTV.

West One managing director Andrew Ferguson says: “Our refreshed range of products and criteria will support our broker partners and demonstrates our commitment to this market. We continued to perform strongly during lockdown and are confident our broad range of specialist BTL products, along with repricing across our entire range, provides a compelling and competitive reason to use West One.

Sales director Marie Grundy adds: “These major enhancements to both our second charge residential and BTL product ranges represent our most significant set of changes since the onset of lockdown. They also underline our commitment to the second-charge market at a time when products are in shorter supply.”