The product is available to network members and directly authorised brokers via Mortgagebox.
The two-year tracker, at Bank of England base rate plus 0.19%, has a present rate of 5.44% and no overhanging early repayment charge.
The rental calculation is based on 110% of the BM Solutions’ calculation rate and the product’s £995 fee can be added to the loan. Dev Malle, director of mortgage distribution at PTFS, says: “Rental yields have been under pressure so a product with a reduced rental calculation at 110%, an attractive tracker rate of 5.44% and a reasonable arrangement fee is welcome.
“Set alongside the BM Solutions’ core range, it provides a pseudocascade facility which is what advisers want.”
Tim Hague, managing director of BM Solutions, adds: “PTFS is rapidly establishing itself as one of the industry’s top distributors.
“We’ve worked together to develop these products and I’m sure many advisers will recognise their feedback in them.”