BM starts competing with sister company.(Brief Article)

Financial Adviser, July, 2004

BM Solutions is going into direct competition with sister company Halifax with a new mainstream product.

BM Solutions, which is the specialist intermediary brand of Birmingham Midshires, is offering a home loan that is 0.51 of a percentage point below Bank of England base rate for two years.

After this, the homeowner goes on to the tracker of Bank of England base rate plus 1.25 percentage points.

This is cheaper than the best Halifax deal, which for 60 per cent LTV is 0.26 percentage points below Bank base rate for one year.

After this, it goes to 0.34 of a percentage point above base rate for another year, followed by the standard variable rate of 6.5 per cent.

A BM spokeswoman said: "We do not set out to compete with...

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