BM Solutions has joined the packaging panel of Mortgage Next it was announced today.
As part of the move, BM Solutions is offering Mortgage Next users an exclusive, heavy sub-prime mortgage.
The new mortgage is fixed at 7.99% until 1 June 2010 and can lend up to 80% LTV for an arrangement fee of £899.
The mortgage is designed for heavily adverse customers and will accept those with up to £10,000 of CCJs, six months of arrears in the past year, IVAs that are satisfied or well conducted and also discharged bankrupt customers.
Mortgage Next says the deal is likely to be popular with sub-prime customers who are having trouble re-mortgaging as a result of the credit crunch.
Lisa Barber, sales and marketing director at Mortgage Next, says: “The number of products available in the sub-prime market has dramatically reduced in the past six months and particularly so in the heavy adverse sector. I have no doubt this product will be welcome news to brokers and their clients throughout the country.”
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