A total of 10 products have been launched, with a number of exclusives and semi-exclusives on offer.
Three key features have also been developed, including an interest only option, the ability to use the unsecured element towards the deposit, and an extension of the maximum term to 35 years. The range includes trackers and fixed rates, with two, three and five-year options.
Rates hover around 6 per cent, with 6.35 per cent offered on the two-year rate with a £1,195 arrangement fee, or 6.55 per cent with a £995 fee. Early repayment charges apply and vary between 4 and 6 per cent. At the end of the term, the rate rises to Base Rate plus 2.09 per cent.
Phil Rickards, head of sales at BM Solutions, said: “Since we made the changes the response from brokers has been unbelievable. Products like this play an important role in the market so, with the backing of our five star service, we’ll continue to support brokers.”
Alan Lakey, senior partner at Highclere Financial Services, said: “These rates are quite high. BM may be searching for a portion of the market that can’t contain a normal rate or aiming at the less discerning adviser or problem client.”
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