The start of a new year brings hope of new products, lenders and rates being cut. We already have lenders who reduced their rates to get more business in the latter stages of 2014 and several have recently announced key criteria changes.

Two lenders have dominated recent policy changes and it's no surprise that they are the two biggest BTL lenders in the market.

BM Solutions have increased the LTV (loan to value) on new builds from 65% to 75% and as well as houses it includes apartments. Good news for investors as the number of new builds is on the increase.

For existing customers, BM has reduced the rates on their product transfers. A four year fixed rate product at 60% LTV is 4.29% and at 75% LTV it is 4.79%. Both with no lender fee and a range of two year fixed rates are also available.