|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
Tuesday 08th of December 2009
July 27, 2009    

Bank of China opens its doors to mortgage customers

Bookmark and Share

by Gill Montia

Bank of China has relaunched its mortgage offering to UK customers, having previously focused on the British Chinese community.

The world’s third-largest bank says it can provide “straightforward and very easy to understand” variable-rate loans to first-time buyers, home movers and customers who want to re-mortgage.

Buy-to-let investors are also being targeted by the bank, which funds its mortgage business from its capital reserves rather than borrowing on the money markets.

Bank of China also differs from many traditional UK lenders by being keen to meet its mortgage customers face-to-face and therefore does not provide an online application process.

Loan officers are available in branches to help potential borrowers and can apparently set up special terms based on a customers’s financial situation or investment plan.

Deals are also available via Savills, Legal & General Mortgage Club and two other brokers.

Rates start from 2.5% over base rate.

Discuss this in the Finance Markets forums

Story link: Bank of China opens its doors to mortgage customers

Related financial stories to: Bank of China opens its doors to mortgage customers:
Previous: « Brits ditch foreign holidays for staycations
Next: Chancellor faces out banks on lending to SMEs »

Visited 1613 times, 3 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment