Tag Archives: BM Solutions

BM Solutions BuytoLet rates reduced Landlord News, Latest Articles, Property News

BM Solutions BuytoLet rates have been reduced across their five and 3 year fixed rate range in line with other lenders reductions and a decrease in LIBOR.

There are also minor adjustments in the cost of some tracker rate products, but it is the cost of longer term fixed rate BuytoLets that reflect more accurately the direction the market is taking and its revised expectations for future inflation and cost of borrowing figures. BM solutions have always been a significant barometer of the industry due to their substantial market share. Product details showing the decrease in cost over the product term are: Continue reading BM Solutions BuytoLet rates reduced


BuytoLet news round up Landlord News, Latest Articles, Property News

Despite the economic uncertainty surrounding Europe BuytoLet products have remained very stable in terms of pricing to the consumer. It will be interesting to see if the Bank of England’s offer of £80 billion in cheap long term loans to the UK banking system specifically for the purpose of increasing lending will have a positive effect on BuytoLet availability and cost.

After the recent LIBOR (London Inter Bank Offered Rate) fixing scandal it is good to see this rate being reduced for buytolet borrowers. Mortgage Trust part of the Paragon group have reduced their LIBOR from 1.1% to 0.9% and Keystone mortgages who specialise in limited company, multi-let and HMO applications have reduced their LIBOR from 1.1% to 1.05% Continue reading BuytoLet news round up


Buy to let semi-exclusive rates are made available by BM Solutions Buy to Let News, Landlord News, Latest Articles, Property News, Property118 News

BM Solutions are making semi-exclusive products available to their preferred broker sources showing they still have an appetite and spare funds available to lend.

The two buy to let products launched recently are both two year fixed rates at 4.89% if you use BM Conveyancing and 5.04% if you use your own solicitor. Continue reading Buy to let semi-exclusive rates are made available by BM Solutions


Buy to Let warning over leased solar panels Buy to Let News, Latest Articles

Landlords looking to install or purchase properties with solar panels using a 25 year lease agreement need to think twice if they require buy to let finance.

We have had feedback from 3 of the major buy to let lenders asking if solar panels installed on a 25 year lease plan are considered suitable security for lending purposes

Continue reading Buy to Let warning over leased solar panels


All change on the buy to let mortgage front Buy to Let News, Latest Articles, Lettings & Management, Mortgage News, Property Investment News

Co-Operative Bank buy to let mortgage customers can breathe a sigh of relief as the wholesale scrapping of interest only loans does not include buy to let borrowers.

The bank’s specialist property investment subsidiary Platform will continue to offer interest only deals to landlords. Continue reading All change on the buy to let mortgage front


London rents hit almost double the rest of the UK Buy to Let News, Latest Articles, Property Market News

Buy to let landlords are picking up almost double the average monthly rent in London compared to property investors in the rest of the UK.

Average monthly rents in the capital are £1,212 a month, according to landlord mortgage firm BM Solutions.
That’s 69% more than the UK average of £716 and 41% higher than the second-placed South East (£858).
Wales (£474 per month) has the lowest average monthly rent, followed by the North and Yorkshire and the Humber (both £488 per month). Continue reading London rents hit almost double the rest of the UK


New mortgage deals for HMO and student landlords Buy to Let News, Latest Articles, Lettings & Management, Mortgage News


– News Sourced by Property118 News Team –


Kent Reliance has launched 80% loan-to-value buy to let and HMO mortgages. Rates include two and three year fixed and discounted deals.

The lender has joined the ranks of few banks and building societies inviting applications for houses in multiple occupation loans, specifically for student landlords.

HMO, student let and limited company mortgages start at 5.19%. Continue reading New mortgage deals for HMO and student landlords


Buy to Let Lenders Boast Booming Borrowing Figures Commercial Finance, Latest Articles, Mortgage News, Property Market News

Buy to let lender Paragon Mortgages profits rose 12% to almost £81 million thanks to landlords building on their portfolios.

Paragon returned to lending in September 2010, and the pre-tax profit represents the first full year’s trading as a lender since the onset of the credit crunch. Continue reading Buy to Let Lenders Boast Booming Borrowing Figures


Buy to let Borrowers Braced for New Lenders Latest Articles, Lettings & Management, Property Investment News, Property Market News

House with for rent sign

"Buy to let is about to been shaken up by new lenders"

The buy to let mortgage market is set for changes as new lenders are ready to offer loans to property investors.

Santander was poised to start lending last month, but has held back blaming technology problems.

The bank had approached mortgage brokers with a 75 per cent loan-to-value deal for landlords with small portfolios of up to three properties.

The loan will come with a capped £1,000 arrangement fee.

Santander has hinted that the bank was to enter the buy to let market for months. Continue reading Buy to let Borrowers Braced for New Lenders


New Tracker Lender for Buy to Let Buy to Let News, Latest Articles, Property Investment News, Property Market News

Street with 'To Let' signs outside most houses
“State Bank of India set to enter the buy to let market”

A new buy to let mortgage lender is about to enter the market with broker-only deals.

The State Bank of India (SBI) has announced preparations to offer a 60% loan-to-value (LTV) tracker at 3.9%.

The first applications will be handled in branches and then opened to brokers and independent financial advisers.

The bank is accepting deals for loans between £50,000 and £1.5 million, and charges a £150 booking fee and £1,990 closing fee. No early redemption payments are charged.

SBI has 10 branches, mainly in and around London.

Leeds Building Society has launched a new five year 4.99% fixed rate buy to let mortgage at 70% LTV.

The closing fee is £1,299 and the lender allows borrowers make 10% capital repayments a year without penalty.

Borrowers are also being offered a free valuation and a legal service for remortgages in a bid to tempt them in.

Meanwhile, Kensington has pulled all 85% LTV buy to let mortgages; Skipton Building Society has raised the tracker rates from 3.24% to 3.59% and Aldermore Bank has stopped offering fixed rate deals.

Replacement deals are at more expensive interest rates or charge more fees.

Despite a flurry of activity among lenders, the market is still dominated by the big two – BM Solutions, owned by the Lloyds Banking Group, and The Mortgage Works (TMW), a Nationwide Building Society subsidiary

These landlord lenders have around a 90% share of the market.

The buy to let market has around 30 bank, building society and finance house lenders offering about 2,600 different loan deals at an average 23% loan-to-value.

Santander is the latest big name lender considering entering the property investment market. A spokesman has confirmed the bank is ‘considering’ buy to let loans to non-professional landlords.


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