BM Solutions has announced a series of cuts and removals to and of its various fees.
The changes include the removal of the £295 mortgage account fee across the brand’s buy-to-let remortgage and purchase products, and the introduction of a new flat fee of £300 for Level 1 standard valuations, which applies to all purchase mortgage applications.
Revaluation fees for additional borrowing are also now set at £300, and in addition, the £100 administration fee for Level 1 standard valuations and Level 2 homebuyers report valuations has been cut entirely.
BM Solutions head Phil Rickards says: “This package of changes is being introduced to ensure we continue to add value to our products for brokers and their clients.
“By streamlining our valuations process and simplifying our products, we can ensure the same Level 1 valuation fee applies for all customers, regardless of the property purchase price.”