The offer, which covers valuations up to £1,500, is designed to help landlords reduce the upfront costs of remortgaging. The deal reflects the market’s current emphasis on remortgaging.
The new range includes:
- Two year 60% LTV from 1.69%
- Two year 75% LTV from 2.04%
- Five year 60% LTV from 2.24%
- Five year 75% LTV from 2.79%
Phil Rickards (pictured), head of BM Solutions, said: “As part of our ongoing commitment to the market and as we enter this new era, we have reintroduced free valuations to help drive down the upfront cost of remortgaging for customers.
“It’s quite clear that the market has moved in favour of remortgages and through extending the choice available at competitive rates and covering the cost of valuations, brokers can continue to write good quality business and meet the needs of their customers.”
Earlier this year, BM Solutions launched a range of five-year fixed products with a stress rate of 5.25% applied to new and remortgage applications.
The lender also uses a rental income calculator to support brokers through the tax changes by helping them obtain a rental coverage ratio (RCR) relative to higher and top rate taxpayers’ individual circumstances, while keeping RCR at 125% for basic rate taxpayers.