SMS announces new products from Bank of China
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Hampshire based Solent Mortgage Services, has unveiled new lifetime tracker products from Bank of China, which cover residential, commercial and buy-to-let channels.
Residential tracker rates are now being offered at 2.3% over bank base rate at 2.8%, with commercial and buy-to-let at 3.5% over bank base rate at 4.00%, along with lower arrangement fees and reduced valuation fees.
For residential the maximum LTV is 75% and 65% for commercial and buy-to-let.
Ian Balfour, CEO at Solent, says: “This is great news for intermediaries to start the New Year. Bank of China is to be congratulated for releasing these really positive product developments designed exclusively for the broker market.
“They have listened to the feedback from their introducers and as a result, we are now able to offer some of the most attractive new mortgage products available in the market, thanks to the reduction in margin and cheaper valuation and arrangement fees. SMS is determined to bring intermediaries the best of products and services in 2010 and this is an excellent start.”
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Readers' comments (2)
Guy Garrard | 13 Jan 2010 11:40 am
Now that IS good news to start the year off. Well done Ian and the team at SMS. Lets hope there's more to come.
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Anonymous | 13 Jan 2010 2:54 pm
But have they done away with the compulsorary interviews in one of their 5 UK branches?
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