New Product - Pink signs BTL deal with BM.

Financial Adviser, October, 2005

PINK Home Loans has signed an agreement with BM Solutions to offer a shared exclusive buy-to-let lifetime tracker.

The product tracks the Bank of England base rate plus 0.39 of a percentage point, giving a current rate of 4.89 per cent.

Investors must ensure they cover monthly rental cover of 125 per cent of the monthly mortgage payments, calculated on an interest-only basis.

Investors can hold a maximum of 10 properties in a portfolio, with a total loan of AGBP1m for each property. There is no higher lending charge.

Early repayment charges of 5 per cent of the amount repaid apply for the first three years of the mortgage.There is an arrangement fee of 1.5 per cent of the loan, which can be added to the amount borrowed. Brokers are...

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