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.

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“[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.”