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Product matters

BM Solutions invites us to ‘say goodbye to bad service’. This is a bold bid by BM and one that could set it up for a fall but it is a sign of the confidence it has in its new mortgage plus product.

Boasting a “five-star” service, the new stellar product means that intermediaries can offer their clients a 95 per cent loan to value mortgage with up to a 30 per cent LTV (to a maximum of 30,000) unsecured loan, giving a combined maximum of up to 125 per cent LTV.

There is no doubt that this is a bold bid by BM to corner a big slice of the remortgage market while at the same time appealing to first-time buyers and those looking for a debt consolidation solution. For this reason alone, mortgage brokers will make sure this is one of the first products they look to fulfil new and existing clients’ needs.

Like other products, mortgage plus has moved to the affordability lending premise and this product is available to all mainstream clients, opening it up to a wide client base.

But what advisers really require is ease of application and BM Solutions is promising straightforward and quick processing through the one-minute mortgage.

The service is online only and all offers generated are sent by email alert – a service most intermediaries appreciate. The test run I conducted worked very well. The rates on the tracker and fixed products are very competitive and there are offerings to suit most clients’ needs.

Sally Laker is managing director of Mortgage Intelligence

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