West One Loans re-enters BTL second charge market

It has also enhanced its second charge product range, with immediate effect, to support the industry through the pandemic.

West One has announced the following changes:

• reintroduction of BTL second charge product range
• applications from self-employed borrowers up to 75% LTV
• AVMs now available up to 65% on apex 1 plans
• restrictions on acceptable loan purposes removed
   

These improvements aim to make lending more accessible and to support brokers during a time when the market has seen a shift in access to lending.

Marie Grundy, sales director at West One (pictured above), stated that the changes validated its commitment to its broker partners.

“[West One has] always looked for opportunities to provide access to products for underserved borrowers, with our BTL second charge range being a great example of this, but this takes on increased significance at a time when product options across the sector are in shorter supply.”

Mark Fry, managing director at CSC Loans, commented on the announcement: “The changes West One [has] made are extremely positive, which will create more opportunities for homeowners and landlords to access second charge finance at a time when product availability is restricted.

“It is even more impressive that, as a non-bank lender, West One [has] been at the forefront of specialist lending during these exceptional times and continues to deliver innovative and well-designed products to meet the needs of a wider range of borrowers.”