If you’re asking, “How do I switch a BM Solutions mortgage product?”, you’re not alone. Thousands of UK landlords and homeowners with a Birmingham Midshires mortgage consider switching products each year to secure better rates or adapt to changing circumstances. Whether you’re managing a buy-to-let portfolio or reviewing your residential mortgage, understanding how to switch your BM Solutions product in 2025 is key to maximising your investment and keeping costs down. Here’s everything you need to know about the process, eligibility, and timing.
What is a Birmingham Midshires product transfer?
A Birmingham Midshires product transfer, also known as a BM Solutions product switch, allows existing mortgage customers to move onto a new rate without changing lenders. This is typically done at the end of a fixed or tracker period to avoid reverting to the lender’s standard variable rate (SVR). The process is usually straightforward and doesn’t require a full remortgage, making it a popular choice for landlords and homeowners alike. Unlike a Birmingham Midshires remortgage, a product transfer avoids legal fees, property valuations, and credit checks. It’s an efficient way to secure a better rate while staying with the same lender. BM Solutions offers a range of new fixed-rate and tracker deals for eligible customers, and many transfers can be completed online or through your mortgage broker.
When can I switch my BM Solutions mortgage product?
BM Solutions typically allows customers to switch their mortgage product up to six months before their current deal ends. This window gives you the flexibility to lock in a new rate ahead of time, which can be especially beneficial if interest rates are expected to rise. If you’re unsure of your current deal’s end date, your annual mortgage statement or broker can confirm it. It’s important to act early—waiting until your current rate expires means you could be moved onto BM’s standard variable rate, which is usually higher. Planning your BM Solutions product transfer in advance ensures a seamless transition and helps you avoid unnecessary costs.
Do I need a solicitor or valuation for a BM Solutions product transfer?
No, one of the main advantages of a BM Solutions product transfer is that it doesn’t require a solicitor, property valuation, or credit check. Since you’re not changing lenders, the process is much simpler and faster than a traditional remortgage. This is particularly useful for landlords managing multiple properties, as it reduces paperwork and administrative burden. The switch is handled internally by BM Solutions or through your broker, and in most cases, you can complete the process online. This streamlined approach makes product transfers a cost-effective and time-saving option for many borrowers in 2025.
Can I switch if I have a buy-to-let mortgage with BM Solutions?
Yes, if you have a buy-to-let mortgage with BM Solutions, you can still switch to a new product at the end of your current deal. In fact, many landlords choose to do this to secure more competitive rates and improve rental yield. BM Solutions specialises in buy-to-let lending and offers a wide range of fixed-rate and tracker options for portfolio and individual landlords. As long as your account is up to date and you meet the eligibility criteria, switching is usually straightforward. A mortgage broker can help you compare available options and ensure the new product aligns with your investment strategy.
How do I actually switch my BM Solutions mortgage product?
To switch your BM Solutions mortgage product, you can either go through your mortgage broker or use BM Solutions’ online product transfer system if you’re eligible. Your broker will review your current deal, confirm your eligibility, and present the latest product options available. Once you’ve chosen a new rate, the broker will submit the application on your behalf. If you’re doing it directly, you’ll need your mortgage account number and some basic details. The new product typically takes effect from the end of your current deal or on a date you specify. The process is quick, and most transfers complete without any need for paperwork or delays.
Will I be charged a fee for switching my BM Solutions mortgage?
BM Solutions does not charge a fee for switching products, but some of the new deals may come with product fees—typically between £999 and £1,995. These fees can often be added to the mortgage balance or paid upfront. It’s important to weigh the cost of the fee against the potential savings from a lower interest rate. Your broker can help you calculate the total cost of each option and determine which product offers the best value over the term. Always review the full terms of the new deal before committing to a switch.
What happens if I do nothing when my current BM Solutions deal ends?
If you don’t take action before your current BM Solutions deal ends, your mortgage will automatically revert to the lender’s standard variable rate (SVR). This rate is usually significantly higher than fixed or tracker deals, which means your monthly payments could increase. For landlords, this can reduce profitability and impact cash flow. That’s why it’s essential to plan your BM Solutions product transfer in advance. By switching before your deal expires, you can avoid the SVR and secure a more favourable rate that aligns with your financial goals.
Switching your BM Solutions mortgage product doesn’t have to be complicated. Whether you’re a homeowner or a landlord, understanding your options and acting at the right time can save you money and give you peace of mind. To explore your options and learn more about Birmingham Midshires mortgage deals, browse our expert guides and speak to a specialist broker today.