New trackers from Bank of China
Residential tracker rates are now being offered at 2.3% over bank base rate at 2.8%, with commercial and buy to let at 3.5% over bank base rate at 4.00%, along with lower arrangement fees and reduced valuation fees.
SMS’s CEO, Ian Balfour said, “This is great news for intermediaries to start the New Year. Bank of China is to be congratulated for releasing these really positive product developments designed exclusively for the broker market. They have listened to the feedback from their introducers and as a result, we are now able to offer some of the most attractive new mortgage products available in the market, thanks to the reduction in margin and cheaper valuation and arrangement fees.”