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    A very shrewd move JP. Strike whilst the iron is hot.

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      Just worked out that the total payments on 5 properties will be lower than the payment on 4 properties three years ago.
      That's been some drop in rate, given that there's more than 25% more being funded.
      When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
      Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

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        BM Solutions have announced that providing an applicant owns no more than 10 BtL properties they will now consider up to a maximum of 5 properties in mortgage with BM Solutions within the Lloyds Bank Group. Certain conditions in aggregate borrowings will apply.
        As a broker I consider this change to be long overdue but very welcome as I am sure will borrowers who had possibly been restricted to 3 properties.

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          Originally posted by loanarranger View Post
          BM Solutions have announced that providing an applicant owns no more than 10 BtL properties they will now consider up to a maximum of 5 properties in mortgage with BM Solutions within the Lloyds Bank Group.
          I wonder how they have come up with these seemingly arbitrary numbers?

          Why the jump from 3 properties to 5? What happened to 4?
          Why 10 properties? Why not 11 or 9?
          Why the max lending increase from £2M to £3M? Why not £2.8M or £3.1M?

          The Lloyds/HBOS group is huge, this seems to me a one size fits all, computer says "no" type announcement.






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            Originally posted by loanarranger View Post
            BM Solutions have announced that providing an applicant owns no more than 10 BtL properties.
            Point to note, it is no more than 10 mortgaged properties (arbitrarily irrespective of low LTV's). Unencumbered properties are not included in the limit but they are taken into assessment.

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              Thanks for providing clarification, I was posting from briefing notes received whilst on holiday in Switzerland.
              As an aside yesterday I had a Boletus Rosti very tasty !

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                In response to your original note, I suspect that BM Solutions like the majority of lenders operating in the BtL sector are seeking ways to stimulate further business at a time when the bulk of such applications are Remortgage as opposed to purchase applications. Although a modest increase itis a welcome change to their criteria.

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