Solent Mortgage Services is offering improved terms on residential and buy-to-let mortgages through Bank of China’s private banking facility.
Under the new scheme, funding is available up to £10m with a maximum LTV of 70% for residential and 65% on BTL with lifetime tracker rates starting at 2.5% and 3.00% respectively, tracking the BBR by 2 and 2.5%.
Ian Balfour, CEO of SMS, says: “We are delighted that our work with Bank of China (UK) has borne fruit over the past twelve months.
“This latest facility is testament to the hard work done on both sides and Bank of China is demonstrating that through its competitive rates and acceptance of loans up to £10m that they have a real appetite to lend. We are sure that brokers with HNW clients looking to move into the prestige property market either to occupy or as an investment will not be disappointed.”