BM is offering a rate of 4.99 per cent fixed until 1 February 2007 and a rate of 5.19 per cent fixed until 1 February 2010.
Both of the products have an arrangement fee of £599 with a 95 per cent LTV, starting with a 5 per cent early repayment charge (ERC) in the first year decreasing by 1 per cent per year.
The range of tracker deals includes a 5.25 per cent base rate tracker at Bank Base Rate (BBR) plus 0.50 per cent for the life of the loan.
This includes a free remortgage service and refund of valuation. There is an arrangement fee of £499, a 90 per cent LTV and ERCs of 5 per cent in year 1 and 4 per cent in year 2.
There is an alternative base rate tracker also at 5.25 per cent, BBR plus 0.50 per cent, for the life of the loan. It has an arrangement fee of £499 and a 90 per cent LTV but has no ERC.
James O’Reilly, senior product manager at BM Solutions, said: “This range continues BM Solutions’ strong presence in the mainstream market.
Highlights include competitive fixed rates and a range of trackers with varying features such as a free remortgage service, refund of valuations and no ERCs.”
Gordon Steyn, mortgage operations director at Thinc, said: “This range is an improvement on BM’s previous range. The trackers are competitive but the arrangement fees on the fixed rates are on the high side when compared to other products on the market.”
