PMPA unveils BM Solutions trackers

The Professional Mortgage Packagers Alliance has unveiled three buy-to-let tracker products from BM Solutions.

The products are all to 85% LTV for a full two year from completion with early repayment charges of 6% year one and 5% year two on the first two products and 6% on the third product.

All have a valuation fee refund to a maximum of £490 and the third option has in addition fully flexible facilities to include overpayments, underpayments, drawdown facilities and payment holidays.

The first tracks base rate and has a rental calculation of 100% of pay rate and an arrangement fee of £1,199.

The second tracks base rate minus 0.20% and has a rental calculation of 110% at the pay rate and an arrangement fee of £1,199.

The third tracks base rate minus 0.50% and has rental calculations of 125% at the pay rate and an arrangement fee of £1,499.

Helen Hymos, lender relationship manager at PMPA, says: “We are thrilled to have access to this superb range of buy-to-let products, which complement each other and allow flexibility on rental yields.

“BM Solutions clearly values its relationship with PMPA and is working continually with me to give PMPA innovative products in many areas.

“Brokers can access these products directly, via the PMPA member’s drop down box.“

Iain Williamson, head of key accounts at BM Solutions, adds: “As the number one lender in buy-to-let, we recognise the importance of having a choice of products available, and that one size doesn’t fit all. I know these deals which recognise the changing market will be well received by PMPA members.”