11:17 AM, 26th May 2011, About 10 years ago
One of the leading buy to let industry lenders, BM Solutions, has released two new Remortgage only buy to let products that must complete on the draw down of funds by 30/06/2011.
This type of short term product release is normally a sign that a lender is keen to use unallocated lending funds not sold through their existing product range, or an appetite to gain market share before a specific point in their financial year.
Regardless of the reason for this release, BM Solutions is obviously keen to capture a greater percentage of remortgage business than it is currently able to attract.
The products released today are:
4.29% 2 year fixed until 01/09/2013 with a 0.5% product fee and inclusive of £500 cash back. Early repayment charge 3% of the amount being repaid to 01/09/2013. Maximum 75% Loan to Value. Reversion rate at the end of the initial period is Bank of England Base Rate plus 4.34% for the life of the loan (currently 4.84%).
3.79% 2 year Tracker until 24 months after the completion date with a 0.5% product fee and inclusive of £500 cash back. Early repayment charge 3% of the amount being repaid to the end of year 2. Maximum 75% Loan to Value. Reversion rate at the end of the initial period is Bank of England Base Rate plus 4.34% for the life of the loan (currently 4.84%).
Consumers must be aware that they need to be in a position to complete on the remortgage transaction with their solicitor before 30/06/2011 or potentially risk losing any incurred costs up to this date.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleBuy to let mortgage rates cut by TMW
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|