The lender says the new process is designed to reduce administration for mortgage brokers and give landlords greater clarity when refinancing and borrowing more.

Mortgage brokers can now submit one combined application when supporting an existing BM Solutions landlord who wants to move to a new deal and take additional borrowing at the same time.

Previously, brokers were required to submit two separate applications.

The combined process removes the need to re key similar information across multiple applications.

For landlords, combining both borrowing needs into a single process allows the full mortgage balance to be aligned onto one product, typically a five year fixed rate.

In addition, BM Solutions has introduced a number of enhancements to its further advance submission portal.

These improvements apply to both combined PT/FAD applications and standalone further advances and include a save and resume functionality and the ability to generate mortgage illustrations without completing a decision in principle or full application.

The lender has also added greater flexibility to amend term lengths and repayment types across sub accounts and provide a soft footprint decision in principle, the option to refine application details prior to final submission and immediate access to next steps and document upload, supporting faster case progression

BM Solutions head Leigh Church says: “We’re always looking at ways we can support both brokers and our landlord customers. These improvements to our further lending application process make it simpler and less time consuming for brokers and give landlords greater clarity and borrowing potential when refinancing and raising additional funds.”