The changes mean for W1 products, one default or CCJ in the past 72 months under £250 is now allowed, while for W2 products, this can be within the past 36 months.

Meanwhile, CCJs and defaults under £250 will not be taken into account on the W3 range.

Day 1 remortgages are now considered based on open market value, where the landlord can evidence value-adding improvements to the property since purchase.

Self-employed borrowers who are first-time buyers or first-time landlords are now considered by referral up to 75% loan-to-value (LTV).

They will require a two-year trading history, minimum income of £25,000 and must be at least 25 years old at the time of the application.

West One managing director of mortgages Marie Grundy says: “These latest enhancements to our buy-to-let criteria open up greater access to our most competitive rates across a wider range of credit profiles.”

“This enables us to serve the needs of more property investors, from first-time buyers and landlords to experienced portfolio landlords with more complex borrowing requirements.”

“Following close collaboration with our broker partners, we’ve adopted a more pragmatic approach to Day 1 remortgages, using open market valuations when renovations have clearly added value.”

“This is just the beginning of a series of changes we will be unveiling in the coming months as we continue our focus on developing our product range to meet the evolving needs of UK landlords.”