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BM bids for adverse remortgage business

BM Solutions is introducing a new remortgage package across its entire adv- erse product range.

The firm hopes to encourage adverse customers to remortgage away from expensive deals, and is offering free legal services and £250 cashback All products in the range have no overhanging charges.

The range includes a tracker mortgage at Bank of England base rate plus 1.84 per cent, a three-year stepped tracker and a good payment step product which BM says gives clients a clear path back to the mainstream market.

BM set up an online service last January and says it is now getting 90 per cent of its business online. It claims brokers can secure a virtual offer in under a minute.

Senior product manager Colin Barrett says: “The market was, until a few years ago, dominated by few lenders with expensive and opaque products. These announcements mark our latest step in bringing mainstream values to this market. Our remortgage product will encourage cust- omers to move away from expensive lenders.”

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