Bank of China change their mortgage rate again

Bank of China may not have made any changes to their market leading mortgage rate since it was launched in January 2010, but it has now been raised twice in a matter of weeks. The new rate is still very competitively priced at 3.18% and it remains one of the few term-tracker mortgages available. It has low early repayment charges and arrangement fees starting at £1,295. Trinity Financial has an excellent relationship with the Bank of China and we have direct access to their mortgage processing team. We can get your application through efficiently. To meet their lending criteria you will need at least a 25% deposit for mortgages up to £500,000 and a 30% deposit for mortgages over £500,000. The arrangement fee varies from £1,295 to 1% of the loan amount, depending on the size of the mortgage. Aaron Strutt, a broker at Trinity Financial, says: “Bank of China has received a large amount of mortgage enquiries and they are not facing any funding pressures. They are still looking to take more applications.” For more information call Trinity on 020 7016 0790. July 8, 2012