BM Solutions to pull all self-cert sub-prime deals

BM Solutions will withdraw all of its self-certification sub-prime mortgages on Sunday to help reduce its business volumes.

It is also reducing the maximum LTV on all status sub-prime deals from 90% to 80%.

Tim Hague, managing director of BM, says: “It’s not a credit issue, it’s about managing our volumes.

“We’ve tried using pricing as a lever and it just wasn’t working, so we’re having to be a bit harder on our lending criteria, which isn’t ideal but it’s something we’re being forced to do.”