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BM Solutions limits BTL clients to 10 properties

BM Solutions has reined in buy-to-let lending in a move described by brokers as a return to mainstream buy to let.

A review of BM&#39s buy-to-let lending criteria has resulted in its 25 to Let scheme being withdrawn. The maximum number of buy-to-let properties an individual borrower can have with BM is now 10.

Some brokers believe this is a move towards the amateur buy-to-let market away from commercial landlords. Others say it could be that BM has seen a glut of business on the product.

London & Country mortgage specialist David Hollingworth says: “It is interesting that the one product that set BM apart for buy to let has been reined back. It may be that BM is a victim of its own success, having seen a glut on this product.”

Hamptons International Mortgages associate director Jonathan Cornell says: “BM is trying to be a bit more mainstream. It does not want to be like Paragon and deal with a lot of commercial landlords.”

BM PR manager Matt Grayson says: “Over 90 per cent of our lending is on the 10 to Let criteria so this decision makes sense.”


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