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West One to amend criteria for BTL affordability tests

But-to-let landlords will now be able to use non rental income towards the affordability assessment when applying for second charge buy-to-let mortgage products with West One, after the specialist property finance lending provider announced a change of criteria for buy-to-let affordability tests.

According to West One’s new terms, borrowers whose rental income covers 100% of the combined mortgage and second charge loan repayment are eligible to be considered for the new enhanced criteria to meet the debt to service cover ratios determined by tax banding starting at 125%.

This will be used towards the affordability assessment alongside their committed expenditure and current assets and liabilities.


Marie Grundy Sales Director at West One said: “We are committed to delivering products which meet the growing needs of borrowers who would benefit significantly from a second charge mortgage. 

“We believe second charges will play an increasingly important role in the buy-to-let sector, providing landlords and property professionals with vital access to equity, facilitating investment into existing buy-to-let properties through home improvements, as well as enabling portfolio expansions.”

West One’s decision to amend the criteria for buy-to-let affordability tests, comes off the back of a series of major product and criteria enhancements to the firm’s entire second charge range of residential and buy-to-let products.

This included West One launching its lowest ever five-year fixed rate of 4.65%, alongside a range of five-year fixed rates without early repayment charges.

Tim Wheeldon, COO at Fluent for Advisers said: “We are delighted to see that West One continues to demonstrate such a forward thinking and considered approach to the needs of intermediaries and their BTL customers through these latest enhancements.”

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