West One has expanded its 'Extra' second charge and residential mortgage ranges, introducing larger maximum loan sizes, enhanced AVM criteria, and additional credit tiers designed to support borrowers who fall just outside mainstream lending criteria.
The Extra range supports lending up to 97.5% LTV without credit scoring.
For residential mortgages, West One has introduced a new prime credit tier offering lending up to 90% LTV for borrowers with minor historic or recent adverse credit, including those with a single missed mortgage payment, CCJs, defaults or missed unsecured credit payments. It is available for first-time buyers, home movers and remortgage customers, offering loan-to-income (LTI) multiples of up to 6.5x as standard.
Alongside the new tier, West One has increased maximum loan sizes across its Extra Residential range, with borrowing now available up to £1 million at 85% LTV on in the Premier Extra and Platinum Extra product tiers. AVM criteria has also been enhanced, available for purchases and remortgages up to 85%.
In addition, the lender has strengthened its second charge proposition through larger maximum loan sizes, more flexible AVM criteria and the introduction of a new near prime Extra product for borrowers with a broader range of adverse credit profiles.
Maximum second charge loan sizes have increased to £900,000 on selected products, while AVMs are now accepted at lower confidence levels up to 75% LTV, reducing the need for full property valuations in more cases.
Marie Grundy (pictured), managing director of mortgages at West One, said: “These enhancements are all about removing unnecessary barriers for borrowers and giving brokers greater flexibility. Larger loan sizes at higher LTVs mean more clients can access our Extra product ranges, while our updated credit criteria recognise that an isolated financial blip shouldn't define an otherwise strong borrower.
“Combined with broader AVM criteria to help speed up completions, these changes reinforce West One's commitment to supporting the modern borrower. We understand that life doesn't always follow a straight line, and our role is to provide mortgage lending solutions that reflect this.”
