Blemain adjust rates to be more competitive

Last post: Jun 28, 2013

Blemain have changed rates. Details here.

In response to clamors from brokers, Blemain Finance has made dramatic changes to its secured loans and buy-to-let products in order to accommodate more borrowers.  These adjustments would allow them to serve their customers faster and more efficiently by allowing brokers to make quicker lending decisions.  The changes would also provide brokers with better conversion rates and help them save significantly on costs. One such change is the easing of the criteria for demerit points.  All borrowers or property investors that have had no CCJs or payment defaults for the past two years will no longer be subject to these demerit points that would have a significant impact on their credit history. Drive-by valuation requirements have also been adjusted.  From now on, all buy-to-let and semi-commercial loans with 65% LTV that are below £50,000 and those with 50% LTV which are below £75,000 no longer require drive-by valuations. New plans have also been introduced, which reduces buy-to-let and semi-commercial loan rates that now start at only 9.9%.  Maximum LTV limits have also been increased as follows: Prime and Light up to 75% LTV, Medium up to 70% LTV, and Heavy up to 60% LTV.  Remortgages have also been increased: Prime and Light up to 70% LTV, Medium up to 60% LTV, and Heavy up to 55% LTV.  Early repayment charges have also been adjusted to better suit the needs of borrowers. Blemain Finance has always been on the forefront in providing innovative financial products that may suit each individual customer based on his or her particular needs.  The company will continue coordinate and get feedback from its partner brokers in order to provide the best and most hassle free loans there is on the market. If you require any assistance with your secured loan or commercial mortgage either one fro Blemain or elsewhere, Choice Loans is an experience Secured loan and Commercial finance broker that can assess your options and source the best deal for you. To speak to one of our agents please call us on 0845 1260350