Read this if you have a mortgage with TMW or BMS

If you have a BTL mortgage with BM Solutions on their Standard Variable Rate (SVR) of 4.84% (older loans enjoy very low rate trackers as SVR) or with The Mortgage Works at their SVR of 4.99% there is a very good chance you can save money.

 

If you have a BTL mortgage with BM Solutions on their Standard Variable Rate (SVR) of 4.84% (older loans enjoy very low rate trackers as SVR) or with The Mortgage Works at their SVR of 4.99% there is a very good chance you can save money. 

Not everyone knows this but both lenders offer product switches for landlords on SVR. 

At present BM Sols offer a 4.29% fixed rate for 2 years with no fees whatsoever, unless your mortgage broker charges you a fee.

  • They offer an indexed valuation for free and there are no legal fees or admin fees.

  • They pay your mortgage broker a procuration fee for arranging the switch too, so everyone is happy.

  • On a typical loan of £100,000 the saving is £550 per annum or £45.83 per month with BM Sols and £700 per annum or £58.33 per month with TMW.

 

 

TMW has an on-line mortgage switching tool.

 

Well certainly be making a phone call tomorrow. 

Thanks to Kis Lettings for bringing this to our attention via Property Tribes. 

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