Economy – BM Solutions have some of the most competitive buy to let … Receive all our latest updates and news about special offers or exclusive products. Registered in England and Wales No: 3547703. He continued: “There is no way you should only offer non-limited company buy to let products. Advance (max) £1,000,000 to 75% LTV. Previously, the lender’s list of exclusions included student lets, tenants claiming housing benefit, rent rebates or rent allowance, asylum seekers and tenants benefiting from diplomatic immunity. Energy Performance Certificate (EPC) What's happening. In these circumstances a specialist mortgage assessment is carried out. For more information on Buy to Let Mortgages and BM Solutions please contact us on 020 7993 2044 or alternatively complete the enquiry form on the right-hand side of this page. New Buy to Let mortgages from BM Solutions are only available through independent financial advisers and dedicated mortgage advisers. Here is an overview of our lending criteria for new Buy-to-Let Mortgage clients. (BM Advisers do not charge any adviser or broker fees for product transfers above £50,000, if you product transfer is below this loan amount, the assigned adviser may charge a fixed fee of £295). BM Solutions has extended some of the property and value limits on its portfolio buy-to-let (BTL) lending criteria rules. • The maximum LTV for a new build* or converted flat/ maisonette is 50% LTV. None or very very limited missed credit card, loan or utility payments in the last 24 months, Whilst borrowing is generally fine, a very high usage of 'credit utilisation' can affect lending decisions, Arrange a lump sump downpayment (as part of a product transfer), Equity Transfer (add or remove borrowers), Arrange Further Advances (borrow additional funds). BM Solutions accept clients with a good credit record. BM Solutions is the Buy to Let brand of Lloyds Banking Group, focusing on servicing the Buy to Let, House 2 House, and Self Build sectors with competitive products and award winning service. Birmingham Midshires Mortgage products are branded BM Solution Mortgages. A product is only available for further borrowing if it states this in the features box. This can usually be added to the loan, in which case interest will be charged on it. Payam Azadi is a partner at Niche Advice Ltd who are Independent Financial and Mortgage Advisers in London. The FCA do not regulate Business Buy to Lets. * Lender will not accept client versions of the documents. Speaking at the Buy to Let Online Forum on Wednesday, Ben Williams corporate relationship director at Coventry Building Society (pictured), said the number of lenders in the buy to let space could keep prices competitive.However, with mainstream residential rates starting at 1.4 per cent in some cases, Williams said he did not expect buy-to-let rates to fall much further. We are a mortgage information portal for Buy to Let Mortgages . Application assessment is carried out under several key areas, As a Buy to Let BM Solutions mortgage applicant you must meet some personal criteria. • The maximum LTV for a new build* house is 75% LTV. This site is for professional mortgage intermediaries only and is not intended for public use. The main costs are for the purchase, the mortgage payments and running the property. Lending criteria – buy-to-let Barclays buy-to-let mortgage is a residential investment product. BM Solutions – Buy to Let Mortgages Birmingham Midshires offers only Buy to Let mortgages at present – these are only obtainable through Independent Financial Advisers and Mortgage Advisers. We do not provide any advice on our website and the content is for information purposes only. BM Solutions is the mortgage lending arm of Birmingham Midshires Mortgages. A spokesperson for BM Solutions says: ”Our move to take away the minimum income requirement acknowledges that as buy-to-let affordability is based on rental income, rather than personal income, we can make it more accessible to more landlords. This lending guide highlights just some of the key aspects of BM Solution mortgages lending criteria. BM Solutions are the specialist lending brand of HBoS, focusing on servicing the Buy-to-let, … The Energy Efficiency (Private Rented Property)(England and Wales) Regulations 2015 mean that, from April 2018, landlords must ensure that properties they rent in England and Wales reach at least an Energy Performance Certificate(EPC) rating of E before granting a tenancy to new or existing tenants. You must be employed or self employed. Buy to Let mortgage rates They are known for their buy-to-let schemes, which have been running since the company’s formation in the 1980s. As from Monday 10th June, Birmingham Midshires will finally be joining a handful of other lenders by providing experienced property investors with BTL mortgages without the need to satisfy any minimum income levels at application. Are Birmingham Midshires the best BTL Lender ? BM Advisers are a dedicated BM Solutions Adviser. Registered address:3 St Georges Court, Altrincham Business Park, Altrincham, Cheshire WA14 5UA. “At the same time, we are updating our buy-to-let affordability criteria. From 19th March, BM Solutions has announced new semi-exclusive products starting at 3.89% up to 75% LTV available for purchase and remortgage, and which also benefits from a £500 cashback too. Consumer buy-to-let We cannot accept applications for consumer buy-to-let. All our products are SUBJECT TO AVAILABILITY and can be withdrawn at any time. BM Mortgage Advisers - BTL Mortgage Advisers. The application process involves credit checking with a number of credit referencing agencies. Why use A Mortgage Now to arrange your BM Solutions buy to let mortgage or re-mortgage. – Cashflow Statement – Not required To discuss any Buy-to-Let deal with our preferred broker please call us on 01603 489118 or email info@property118.com Mortgage Type Buy To Let Property Value (min) £50,000 Advance (min) £25,001. It's designed for the purchase or remortgage of residential properties (including new build) that will be ready to let on or within 1 month of completion. BM Solutions is the Buy to Let brand of Lloyds Banking Group, focusing on servicing the Buy to Let, House 2 House, and Self Build sectors with competitive products and award winning service. For Existing Birmingham Midshires Customers. Portfolio landlords are landlords generally with 4 or more investment or BTL properties. A spokesperson for BM Solutions, the broker lending arm of Birmingham Midshires, says that they acknowledge buy-to-let mortgage affordability is based on rental income, rather than personal income and the removal of the minimum income requirement will … Is Buy to Let for you? BM Solution Mortgages are Buy to Let mortgages and such such are solely for investment purposes -the are not for owner occupation. BM Mortgage Advisers have a panel of dedicated BM Solution mortgage advisers. A spokeswoman for BM Solutions, said: “Through our buy-to-let criteria, we are actively managing the risk profile of this type of lending. – A minimum rental stress of 145% at 5.5% Our adviser network is 'whole' of market, so we can typically carry out the above transactions for most other UK lenders. For BTL mortgages the maximum borrowing is generally limited firstly by the Loan the Value - which is 75% of the value of the property. Delegate places are free of charge, subject to approval by the organisers based on job criteria; Registered delegates have access to the seminars where applicable. Generally these remortgage transactions take between 3-7 weeks. – Asset & Liability Statement (lender customer profile form) – All cases Buy to Let Deposit — typically, the maximum Buy to Let mortgage is 75% Loan to Value – so you will need to fund at least 25% of the property value Arrangement fee — could be up to 3.5% of the amount borrowed. 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