The product offers a fixed rate of 5.89 per cent until 1 March 2011 and is available for loans up to 85 per cent LTV.
Incentives include a refund of the valuation fee (max £490) on completion and £250 cashback.
There is an arrangement fee of 1.5 per cent, which can be added to the loan and an early repayment charge applies on the following basis: 6 per cent of the amount repaid to 1 March 2009, 5 per cent to 1 March 2010 and 4 per cent to 1 March 2011.
Neil Hoare, associate director, proposition development for Pink Home Loans, commented: “Remortgaging is on the increase and with the current slowdown in the mortgage market it looks set to continue further.
"Latest figures show that remortgaging was higher in September (£11.1 billion) than August. Furthermore 1.4 million households’ short-term fixed rate deals are due to expire in 2008; therefore this competitive deal from BM Solutions comes at a great time for our intermediary customers”.
Lee Francis, director of Francis Stone added: “This product should be well received by intermediaries in the current climate. Not only is it a market leading rate, but it is also fees assisted, which will be hugely popular for the increasing number of consumers who are self employed or require a self-cert product due to their varying income”.
