The digital journey for limited companies will make the process quicker and simpler and offers “self-serve” tools to manage the mortgage.
Along with the launch of the digital solution, BM Solutions will be offering new limited company products on two- and five-year terms. There are around 32 limited company deals available, and pricing starts from 3.99%.
From a criteria perspective, BM Solutions will lend on portfolios up to 10 properties and does not lend on houses of multiple occupancy (HMOs), multi-unit blocks (MUBs) or commercial properties.
The process will include upfront checks, including an updated rental income calculator, eligibility, ID verification, credit, property, Companies House and direct debt viability checks, to make the application process faster.
There will also be instant decisions in principle, automated decisioning, same-day app to offer for fully automated valuation cases and a 48-hour service level agreement for portfolio applications that need a manual overview.
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BM Solutions will also offer access to its business development managers (BDMs) and accredited BTL specialists to offer guidance and support.
There is also a wealth of education resources, like calculators, how to guides and eligibility guidance.
The process is also subject to security measures to ensure that brokers can entrust their clients’ data, and transactions are protected.
Leigh Church, head of BM Solutions, said: “We are excited to introduce this innovative digital BTL service for limited companies. Our goal is to provide a seamless and efficient experience for brokers and their clients, empowering them to make the most of their property investments.
“We want to be the broker and customer’s first choice for Ltd Co. buy-to-let mortgage lending. This launch represents a significant addition to our commitment to delivering exceptional service and support to our clients.”
BM Solutions is the latest firm to bolster its limited company proposition, with Coventry Building Society and The Mortgage Works (TMW) entering the market earlier this year.
