BM Solutions offering 3.14% buy-to-let five-year fix
BM Solutions is offering one of the lowest buy-to-let five-year fixed rate mortgages.
The broker-only lender (owned by Lloyds Banking Group) has a 3.14% rate that is fixed until 31 March 2021.
From April 2021, the mortgage will revert to the lender’s variable rate which tracks the Bank of England base rate plus 4.34% (currently 4.84%). The overall cost for comparison is 4.3% APR.
Aaron Strutt, product manager at Trinity Financial, says: “BM Solutions buy-to-let rental calculation is based upon 125% at a notional rate of either 4.99% or 5.49%, dependent on the loan-to-value and length of the rate.
"For five-year fixes the notional rate is 4.99%, enabling many clients to borrow more money. You can work out how much you can borrow using our mortgage calculator.
BM Solutions mortgage has a £1,995 arrangement fee and a maximum loan size of £1,000,000. Borrowers will need a clear credit history and a 40% deposit to qualify.
For help to secure a buy-to-let mortgage, call Trinity on 020 7016 0790.
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