BM Solutions has introduced a stress rate calculation to allow landlord borrowers to remortgage with no additional borrowing where the loan to value (LTV) is 60 per cent or less.
This is the first time the buy-to-let lending arm of Lloyds Banking Group has made like-for-like remortgages available.
It has also updated its rental cover ratio calculation to accommodate this.
The lender recently finalised changes to its online mortgage portal which allows brokers to upload documents, trackers and message the lender. It also introduced an application programming interface (API) which uses Rightmove data to provide property valuations to the platform.
Phil Rickards (pictured), head of BM Solutions, said: “With the successful move to our new mortgage platform complete, we have been able to shift our focus and fill an important gap in our product range.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
