Buy-to-Let

Second Charge Mortgages

Our range of buy-to-let second charge mortgage products offer flexible capital raising solutions for landlords including options for consumer buy-to-let applications.

With an increasing number of landlords benefitting from longer-term fixed-rate mortgage products or preferential terms on their first charge mortgage, the option of a second charge will enable property investors to release equity from their property portfolio without disturbing their first charge mortgage arrangements.

Whether your client wants to renovate their buy to let properties to increase rental yield, raise funds towards further property purchases or raise funds for personal use we can assist.

Let us help you get started

Our products are exclusively available through a limited panel of Master Broker partners who work with mortgage intermediaries to provide a varied range of submission routes for second charge mortgage applications.
Contact us today for more information on how you can access our range of products

Our Product Range

Unregulated and CBTL Products

  • No Credit Scoring
  • Loans up to £250,000 (subject to LTV restrictions)
  • LTV’s available up to 75%
  • Loan term 3- 25 years
  • Interest Only Options available across all products
  • Most legal loan purposes acceptable including BTL property renovations, property purchases and loans for personal use considered.
  • CBTL products available
  • DSS tenants accepted
  • HMO properties and Ex-pats considered by referral
  • Ages 21 with loan term ending by 85th birthday
  • No minimum income requirements
  • Individual landlords (Not available for ltd companies/corporate landlords)
  • Licensed HMO properties and ex-pat’s considered
  • Up to 3 loans per borrower up to maximum borrowing of £750,000
  • Simple DSCR calculation
  • No restrictions on the number of properties in the background
  • Minimum Age 21 with the loan term ending by age 85
  • Available to both professional and part-time landlords
  • Minimum 12 months mortgage history – no secured arrears in the last 12 months
  • Up to 1 unsatisfied CCJ’s and 1 unsatisfied default over £350 in the last 12 months up to a maximum value of £500 per CCJ and /or default
  • Unsecured arrears in the last 12 months provided any item of unsecured credit has not been more than 3 months in arrears at any time in the last 12 months (NB Unsecured credit with balances under £350 not included for plan assessment purposes)
  • Previous satisfied or discharged IVA/DMP/Bankruptcies/Repossessions considered if from over 2 years ago and is accompanied by a satisfactory explanation
  • No payday loan activity in the last 24 months

NB Explanations will be required for any items of credit which have not been conducted satisfactorily

  • Landlords with less than a perfect credit score or who may have experienced some historical credit issues
  • Landlords who have locked into a 5 year fixed rate on their first charge mortgage
  • Landlords who are benefitting from preferential mortgage terms eg low base rate tracker product which they do not wish to disturb
  • Landlords who have recently completed a product transfer but now need to raise further finance
  • Landlords who would incur early repayment charges by remortgaging
  • Landlords looking to refurbish their investment properties to increase rental yield and/or property value
  • Landlords looking to raise funds towards a further property purchase
Useful Downloads

Download West One Second Charge Product GuideMAR 2021

Highlights

  • Interest-Only and CBTL options available
  • Variable rates from 5.99%
  • 2 year fixed rates from 6.29%
  • 5 year fixed rates from 6.59%

Become an Introducer

Introduce business to West One

If you would like to discuss a case, register as an introducer or learn more about what West One has to offer, simply complete the short enquiry form below and a member of our broker support team will get in touch.

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Meet the Second Charge Mortgages Team

Marie Grundy

Managing Director, Second Charge Mortgages

marie.grundy@westoneloans.co.uk +44 (0) 7825 509696

Pauline Rylands

Second Charge Account Manager

Pauline.Rylands@westoneloans.co.uk +44 (0)7810 293964