Birmingham Midshires offering 2.74% product transfer rate for mortgages between £300,000 and £2 million
Birmingham Midshires (now BM Solutions) is offering a range of product transfer rates to existing buy-to-let customers looking for another product.
The lenders most competitively priced product transfer mortgage is fixed at 2.74% until 31 October 2017. Existing customers will need 40% equity in their property to qualify.
After the fixed rate expires, the mortgage will revert to Bank of England base rate plus a margin of 4.34% (currently 4.84%).
The overall cost for comparison is 4.6% APR and there is a £999 arrangement fee.
Aaron Strutt, product manager at Trinity Financial, says: “BM Solutions offers a full range of product transfer mortgages but customers need to go through a broker to apply for them.
“We have access to their online systems and regularly submit applications for our clients, although as part of our service we search the market to see if there are any better mortgages available.”
For help to secure a product transfer rate, call Trinity on 020 7016 0790.
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