West One Loans has announced significant pricing reductions to its residential, second-charge and buy-to-let products.

The specialist lender has cut its range of fixed-rate residential mortgages by up to 64 basis points with both its two and three-year fixed rates now starting at 6.75%.

Meanwhile, West One’s limited-edition five-year fixed rates will start from 6.09% up to 75% LTV, providing rate reductions of up to 20 basis points.

It has also reduced its Prime Plus Flex and Prime Flex plans for applicants wanting to borrow more than five times’ income by 64 basis points, with rates starting at 6.99%.

There has also been pricing enhancements to its limited-edition cashback products for remortgage borrowers, which West One launched earlier this month.

The range starts from 6.89% and offers borrowers £500 towards legal fees upon completion.

In addition to this, West One has also made rate reductions to its second charge mortgages.

The lender has cut its Apex 0 range, which targets borrowers with good credit histories who typically have a high street mortgage, by up to 56 basis points.

It means that its five-year fixed rates now start from 7.10%, while its three and two-year fixed rate products start from 8.29% and 8.49% respectively.

Plus, there has been sizeable reductions made to West One’s interest only large loan products, with its five-year fixed rates down 0.89% to 8.10% and its two-year fixed rates down 0.75% to 9.49%.

Finally, West One is also making further reductions to its fixed-rate mortgages for landlords.

Both its core and complex fixed-rate products have been reduced by up to 30 basis points with rates now starting from 4.49% for a two-year fix and 5.29% for a five-year fix.

There have also been changes to West One’s W1 limited-edition range for both portfolio and non-portfolio landlords.

The former – landlords with more than three properties – can now access a two-year fixed rate from 4.19% and a five-year fix from 4.44%, after reductions of up to 16 basis points.

As for the latter, rates have been cut by up to 14 basis points, with equivalent fixed-rate products starting from 4.19% and 5.06%.

West One Loans managing director of residential mortgages Marie Grundy comments:

“Our updated residential mortgage products offer competitive pricing for borrowers who need options outside of the high street, including those with less than a perfect credit rating, older borrowers and self-employed applicants.

“Meanwhile, our second charge products are a valuable option for high street borrowers who have further borrowing needs but don’t want to disturb their existing mortgage arrangements, particularly if they are benefitting from a low fixed rate mortgage.”