Product Transfer
This is ONLY applicable to First Charge Buy-to-Let or First Charge Consumer Buy-to-Let mortgages.
If your client is approaching the end of their initial fixed or tracker rate mortgage with us, or if they have already moved on to their reversion rate, they may be eligible for a Product Transfer with us.
If you would like to make an enquiry on your client's behalf, you will need to provide us with a Product Transfer Letter of Authority.
Upon receipt of the Product Transfer Letter of Authority, our servicing team will follow up with you on the options available to your client in respect of a Product Transfer.
Where a Product Transfer is done with your involvement, we will pay you a procuration fee of 0.30%.
Please note, if the product is within 60 days of the expiry of its Early Repayment Charge period, we will send the borrower a letter with details on how to switch using our Product Transfer service.
Product Availability
- All products on our W1 Core Range except 9.99% fee products and our green product range.
- For details, please refer to the Product Transfer product guide or call West One Loans at: 0208 7362 241 or email to: servicing@westoneloans.co.uk
Let us help you get started
For more information on our buy-to-let offering contact our support desk using the form below.
Eligibility
- The product is within 60 days of the expiry of its Early Repayment Charge period or is outside its Early Repayment Charge period.
- The loan has been active for more than 12 months.
- The conduct on the account must be satisfactory.
- This is a First Charge Buy-to-Let or First Charge Consumer Buy-to-Let mortgage.
- A completed Product Transfer Letter of Authority is required if a broker is making the enquiry on their client's behalf.
Product Transfer DSCR Calculator
Use our quick and easy Product Transfer Calculator to calculate an indicative monthly payment and check whether DSCR passes on an indicative basis.
*DSCR: Debt Service Coverage Ratio
The calculator is intended as a guide and does not constitute an offer of credit. It is intended to be for illustration purposes only. Please refer to the Product Transfer product guide for rate and fee options, maximum loan sizes and LTVs available.
For Product Transfers, we calculate LTV using the indexed valuation (up to 125% of the original valuation) and require the case to fit 110% DSCR. Where the rent has increased from the original application, evidence will be required. Where a case fails the DSCR calculation, please call us to discuss the options available to your client.
For further information, confirmation on which products are available for your client or to issue a formal quote, please call our Product Transfer Team on 0208 736 2241 or email servicing@westoneloans.co.uk.
Result
- Interest Only Monthly Payment
Feel free to submit your enquiry. Our product transfer team will get in touch with you.
Submit Enquiry
Product Guide & Useful Downloads
Product Transfer Product Guide Product Transfer Letter of Authority