The two year fixed rate has an initial pay rate of 5.99 per cent at 85 per cent LTV. At 75 per cent LTV the pay rate is 5.79 per cent. The ERCs for both of these products are 5 per cent in year one and 4 per cent in year two.
The five year fixed rate has an initial pay rate of 6.19 per cent at 85 per cent LTV and at 75 per cent LTV at a rate of 5.99 per cent. The ERCs begin at 5 per cent in year one and end at 1 per cent in the final year.
BM Solutions senior product manager Colin Barrett says: “This new product range gives our customers the choice and flexibility to fix their repayments over the short to long term.”