Three model houses with signs on which say: 'Buy me', 'For sale', 'Best deal'

Category: buy to let mortgages

Lender BM Solutions joins other lenders in making changes to their product range in support of the buy to let sector, easing pressure on landlords.

Having been released on the 5th of September, intermediary lender BM Solutions have changed their let to buy and buy to let mortgage range.

In a show of support for the buy-to-let sector, BM Solutions have cut rates up to 0.71 percent across their product ranges – bear in mind that early repayment charges during initial fixed period of both products presented.

Those who are purchasing may be eligible for a 5.18 percent rate with an initial fixed period of 5 years, at 65 percent loan to value, with a £3999 product fee.

Those who are remortgaging and have chosen to invest in an energy efficiency rating of C or above, may be eligible for a 5.36 percent rate, with an initial fixed rate period of 5 years at 65 percent loan to value, and a £1499 product fee.

Head of BM Solutions, Leigh Church, has said:

In a challenging market, we continue to support the BTL sector wherever we can.

These new products and lower rates will offer greater choice for brokers and some welcome relief to landlords.

Coventry for intermediaries has also recently reduced their buy to let product range by up to 28 basis points.

From Coventry, and available for purchase or remortgage, is a notable buy to let product with a 5.97 percent rate with an initial fixed rate period of 5 years at 75 percent loan to value with no product fee (early repayment charges during initial fixed period).

Head of intermediary relations at Coventry Building Society, Jonathan Stinton, has said:

We continue to reduce rates as we’re keen to provide value to customers as soon as we can.

Fixed rates are still in demand so we’ve passed on reductions to selected two, three and five-year deals, arming brokers with the range of options they need to help their clients.

These cuts from the two intermediary lenders come as larger mainstream lenders also make cuts to their buy to let product ranges.

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