Solent Mortgage Services (SMS) says it can now offer improved terms on residential and buy-to-let through Bank of China’s private banking facility.
SMS has been one of the few intermediary distributers with access to Bank of China (UK) mortgage products. Under the new scheme, funding is available up to £10 million with a maximum LTV of 70% for residential and 65% on buy-to-let with lifetime tracker rates starting at 2.5% and 3.00% respectively.
Ian Balfour, CEO of SMS, said: “This latest facility is testament to the hard work done on both sides and Bank of China is demonstrating that through its competitive rates and acceptance of loans up to £10 million that they have a real appetite to lend. We are sure that brokers with high new worth clients looking to move into the prestige property market either to occupy or as an investment will not be disappointed.”””
