BM Solutions has launched a sub-prime range of products to allow 500 worth of County Court Judgements.The 500 category includes rates at 5.15% for near prime customers and will sit alongside its existing near prime 1500 range for 1,500 worth of CCJs and near prime 3500 range for 3,500 of CCJs. The standard light, medium, heavy and unlimited categories still apply. New products in the near prime 500 range include a tracker at Bank of England base rate plus 0.40% then base rate plus 2.29% for life. There is also another tracker at base rate plus 0.40% for three years. This also includes a free valuation up to 490 plus 250 cash back. Both products are up to 75% LTV. David Mead, director at Flexible-mortgage.net, says the rates look attractive. He adds: “The rates look competitive and for certain clients a free valuation is a great advantage. Combined with BM Solutions’ excellent online application process, it should mean that brokers can offer competitive products and provide good service.”
There’s no pleasing some people. Just when you thought mortgage lenders were doing everything humanly possible to give borrowers maximum flexibility, along comes a survey that suggests customers want a lot more.
The commercial finance broking industry stands at a crossroad. Intermediaries have existed for many years but customer loyalty to banks has meant that only a small percentage (about 15%) of commercial mortgage business is written through brokers.
The July figures from the Bank of England show the UK mortgage market is in excellent health with a 10.9bn increase in the total net lending to individuals.In comparison, net lending to individuals in June increased by 9.8bn, and the average increase over the previous six months was 10bn. The 9.8bn increase in net lending […]
Technology has revolutionised the application process for mortgages. It’s now not a matter of if the goal of instant mortgage offers will be achieved but when. But all companies involved in the mortgage industry need to apply this same level of technological innovation and imagination to every area of the process for the market to advance.
By Fiona Holmes, proposition communications manager When I first took out critical illness cover, I was overwhelmed. It wasn’t just the form filling, it was finding out about the sheer number of illnesses I was covered for. Did it give me peace of mind that I was covered for neuromyelitis optica or systematic lupus erythematosus? […]
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