Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

West One Expands Residential and Second Charge Mortgage Ranges

Specialist lender West One has expanded its second charge and residential mortgage ranges, according to a report by Mortgage Solutions. The changes include increased maximum loan sizes, wider automated valuation model (AVM) criteria, and the introduction of new credit tiers.

West One has launched a new Prime residential tier, offering lending up to 90% loan-to-value (LTV) for borrowers with minor historical or recent adverse credit. These products are available to first-time buyers, homemovers, and remortgage customers, with loan-to-income (LTI) multiples of up to 6.5 times.

The lender has also increased maximum loan sizes across its Extra Residential range. Borrowing of up to £1 million is now available at 85% LTV on Premier Extra and Platinum Extra products. Within its second charge range, maximum loan sizes have been increased to £900,000 on selected products.

Additionally, West One has expanded its AVM criteria to accept lower confidence levels up to 75% LTV. The lender has also introduced a new Near Prime Extra product for second charge borrowers with a broader range of adverse credit profiles.

These enhancements may be relevant to UK letting agents and inventory clerks, as they could impact the range of mortgage options available to landlords and property investors.