Its previous 1 per cent arrangement fee has been replaced with a fee of £499 across the entire range. The range, which lends up to 85 per cent LTV, includes a tracker with a rate of 5.74 per cent, Bank Base Rate (BBR) plus 0.99 per cent for 2 or 3 years, with early redemption charges ranging from 3 per cent in year 3 to 5 per cent in year 1. The maximum loan size is £350,000.
Other products, which lend up to 75 per cent LTV include a tracker with a rate of 5.14 per cent, BBR plus 0.39 per cent for 2 years with early redemption charges ranging from 5 per cent in year 1 to 1 per cent in year five. The maximum loan size is £1 million.
Remortgage and flexible trackers are also included in the self-certification range.
Matt Grayson, public relations manager for BM, said: “We have never been away and we are where we want to be. We have refreshed our range to provide competitive products. Self-certification is a strategically significant part of our market.”
Ray Boulger, senior technical manager at Charcol, commented: “The product range is a respectable one, offering competitive products especially the 85 per cent 3-year tracker and the fee of £499 is reasonable. With housing purchases slowing, the remortgage market is a sensible one to aim for which is reflected in the free remortgage service they are offering."
