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BM Solutions last lender to quit 125% arena

BM Solutions has confirmed it will be withdrawing its Mortgage Plus product after every other lender in the 125 per cent loan to value market pulled out this week.

In an email alert today, BM Solutions says it withdrew its self-cert 90 per cent loan to value and Mortgage Plus products at midnight last night.

It says it apologises for not giving its normal notice.

BM Solutions says: “We constantly review our product offerings and make changes as and when necessary. We have withdrawn our Self-cert 90 per cent LTV and Mortgage Plus products and will not be replacing them at this time.”

This comes after Alliance & Leicester, Abbey, Coventry Building Society and its subsidiary Godiva Mortgages all announced their withdrawal from the market on Tuesday.

Northern Rock was quick to follow with confirmation yesterday that it would be withdrawing its Together range from the end of play.

Speculation was then focused on when BM Solutions would announce its withdrawal from the market.

There are now no lenders offering a combined mortgage and unsecured loan range with the potential value of up to 125 per cent LTV.


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Guide: Johnson Fleming produces auto-enrolment checklist

For a job as big as managing the auto-enrolment changes, it’s important to know what has been completed and what still lies in front of you to give you the reassurance that everything is in hand. Getting the planning and project management right at the outset can help you see the path ahead and ensure everyone knows their roles and responsibilities. To help with this, Johnson Fleming has produced a checklist outlining every step that needs to be taken when preparing for auto-enrolment.


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