West One Loans’ buy-to-Let (BTL) division has unveiled new criteria changes which will see maximum borrower exposure limits raised by more than three times their current level.
The specialist lender has announced it is increasing its borrower limits from £1.5m to £5m.
West One also confirmed it is opening up to larger houses in multi-occupancy (HMO) and will consider HMOs of up to ten bedrooms, an increase from the previous limit of six.
“These criteria enhancements are really great news at the moment, with so much focus on the BTL market and the potential opportunities out there,” commented managing director of West One’s BTL division, Andrew Ferguson.
“The exposure increase, in particular, allows us to support larger scale portfolio landlords with their financing needs across a range of products and we will be working closely with our intermediary partners to develop this market.
“Following so closely after the funding agreement announcement, it really shows how the business is making very positive steps with real intent to grow.
“Our BTL offering is growing and being received really well in the market. We believe the blend of strong products and criteria, aligned with property sector expertise and a real commitment to customer service, should enable us to really support the sector this year.”
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