BM Solutions Fixed 2.51% until 30/06/2021
Which? customer score 64%
Assumed borrowing of £125,000 over 25 years, representative 4.4% APRC. Total amount payable: £207,026.38. Includes interest of £80,356.38, Valuation fee of £380, Booking fee of £295 and Administration fee of £995. Repayments: 36 monthly repayments of £561.40 at 2.51% (fixed), then 264 monthly repayments of £701.31 at 4.84% (variable).
BM Solutions customer satisfaction scorecard:
How do we work this out?| Clarity of statements | Flexibility of payments | Transparency of charges | Customer service | Overall customer score |
64%Poor |
Eligibility
| Maximum age | 80 |
|---|---|
| Minimum age | 25 |
| Location | Any |
| Restricted location note | N/A |
| Existing customer note | N/A |
| Eligibility notes | N/A |
Mortgage product details
| Mortgage types | Remortgage, Buy to let |
|---|---|
| Deal type | Fixed |
| Tracker type | N/A |
| Payment options | Interest only, Repayment |
Mortgage product features
| Overpayments allowed | No |
|---|---|
| Overpayment limits note | 10% overpayment allowed each year |
| Offset mortgage | No |
| Help to Buy mortgage | No |
| Shared ownership mortgage | No |
| Shared equity mortgage | No |
| New-build mortgage | No |
| Self-build mortgage | No |
| Portable mortgage | Yes |
Product fees
| Arrangement fee | £995 |
|---|---|
| Arrangement fee can be added to loan | Yes |
| Booking fee | £295 |
| Telegraphic transfer fee | £0 |
| Insurance fee | £0 |
| Other fees | £0 |
Rate information
| Minimum borrowing amount | £25,001 |
|---|---|
| Maximum borrowing amount | £1,000,000 |
| Minimum term (years) | 5 |
| Maximum term (years) | 40 |
| Initial deal end date | 30.06.21 |
| Initial deal length (months) | 36 |
| APRC | 4.43% |
| Initial rate | 2.51% |
| Revert-to rate | 4.84% |
| Maximum LTV | 75.0% |
Other charges
| Exit fees | £0 |
|---|---|
| Valuation admin fee | £0 |
| Valuation fee | From £265 for property value above £50,000 |
| Early repayment note | 4% then 3% then 1% until end of fixed period |
Standard benefits
| Valuation admin fee excluded from any refund offer | Yes |
|---|---|
| Maximum free valuation | £1,500 |
| Cash back amount | £0 |
| Further notes about benefits | Free conveyancing |
Remortgage benefits
| Cash back on legal fees | No |
|---|---|
| Free legal work | Yes |
| Valuation offer | Free |
Purchase mortgage benefits
| Cash back on legal fees | No |
|---|---|
| Free legal work | No |
| Valuation offer | Payable |