The lifetime tracker loans come with reduced arrangement and valuation fees, priced at base rate +2.3% (2.8%) at 75%LTV for residential borrowers and base rate +3.5% (4%) and 65% LTV for buy-to-let borrowers.
Mortgage applications will be processed by packager Solent Mortgage Services. Applicants will be invited for an interview at one of Bank of China’s five UK branches.
John Ahmed, commercial director at Home of Choice, says: “We anticipates that the Mortgage Market Review will lead to stronger commercial relationships between lenders, networks and brokers. Innovative lenders like Bank of China working with good networks to champion prudent lending to the right borrowers will breathe new life into the sector”.