The range includes a 3 year buy-to-let base rate tracker of 5% (1.25% above Bank of England base rate), capped at 6.99%. This scheme is available for remortgages only and includes a refund of valuation up to £500 and the customer’s standard legal fees will be paid using a BIM nominated solicitor.
BIM has also launched new rates for its 1st Start scheme including a 3 year discount of 4.59% (1.2% discount off our standard variable rate), capped at 6.99%. On all of the 1st Start products, the MIG is paid for by BIM and there are no extended early repayment charges.
Commenting on the new rates, Roland McCormack, Managing Director says:
“These products allow customers to benefit from the current low interest rates but also gives them peace of mind with the capped element should interest rates continue to rise.”
For full details on the new mortgage range please contact the Broker Hotline on 0118 968 4333.
