BM Solutions removes £25k minimum income requirement on BTL
In a positive move designed to relax buy-to-let lending criteria BM Solutions has removed the minimum income requirement of £25,000 for buy-to-let landlords.
A spokesperson for BM Solutions, the broker lending arm of Birmingham Midshires, says that they acknowledge buy-to-let mortgage affordability is based on rental income, rather than personal income and the removal of the minimum income requirement will make their mortgages more accessible to landlords.
Trinity Financial has access to two exclusive buy-to-let rates available through Birmingham Midshires. The two-year fixed rate is 3.99% and the two-year tracker rate is 3.89%. Both mortgages have £995 arrangement fees and the lender will also pay £500 cash back on completion.
The mortgages are available to a maximum of £1 million.
June 14, 2013
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