BM Solutions increases official buy-to-let mortgage limits for first time since credit crunch
BM Solutions has eased its exposure limit raising the number of mortgages it can provide for the first time in nearly ten years.
The specialist buy-to-let lender has increased the maximum number of buy-to-let mortgages a borrower can have across Lloyds Banking Group from three to five. It has also changed the maximum value of buy-to-let mortgages with Lloyds Banking Group from £2million to £3million.
Aaron Strutt, product director at Trinity Financial, says: “BM Solutions reduced its exposure limits to the buy-to-let market just after the crunch hit. At the time it was a bit of a shock, especially with all of the other changes.
“The lender has decided it's a good time to tempt more landlords into action to purchase more properties or remortgage their buy-to-let portfolio's. The move will also give the other banks and building societies a bit more competition.”
Last change nearly ten years ago
Mortgage Strategy magazine covered BM Solutions criteria changes back in January 2009, when it moved to a maximum of nine properties max on all of its brands.
In September that year, the magazine highlighted that the lender introduced a new value cap of £3m. In September 2010 BM Solutions reduced the maximum number of properties to just three and a £2m value cap across all the brands.
Decent buy-to-let mortgage rates
BM Solutions is offering some of the most competitively priced buy-to-let mortgages with low arrangement fees. It has a reputation for producing fast offers and applicants do not need to have a minimum income to qualify.
Call Trinity Financial on 020 7016 0790 to secure a buy-to-let mortgage
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