BM Solutions raises rates on BTL remortgages by up to 15bps | Mortgage Strategy

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BM Solutions will raise rates on a range of products on Monday (22 November).

The broker-only arm of Birmingham Midshires building society, says two-year fixed-rate loans for 75% loan-to-value buy-to-let products, without fees and fees of £995 and £1,995 will lift by 4 basis points.

It will see a two-year fixed-rate BTL offer at 75% LTV lift to 1.62%, with a £995 fee, among the changes.

The lender says end dates for these loans have been extended by three months.

The unit adds that two and five-year fixed-rate offers for 60% LTV BTL remortgages and let-to-buy products, without fees and fees of £995 and £1,995 will rise by 15 basis points.

This will see a five-year fixed-rate BTL remortgage offer at 60% LTV lift to 2.21%, with no fee.

Among the changes, it will also see a two-year fixed-rate let-to-buy remortgage loan at 60% LTV lift to 1.20%, with a £1,995 fee.

The firm says end dates for these loans are also extended by three months.

The unit tells brokers to “ensure any applications on existing products are fully submitted before 5pm on Saturday 20 November”.


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