If you’re a UK landlord or homeowner with a Birmingham Midshires mortgage, you might be wondering: What rates are available for BM Solutions product transfers? As we move into 2025, many borrowers are reviewing their mortgage options to secure competitive rates and avoid moving to a higher standard variable rate. BM Solutions, the intermediary-only arm of Birmingham Midshires, offers a range of product transfer deals that can help you stay on track financially without the hassle of a full remortgage.
Below, we answer some of the most common questions landlords, brokers, and homeowners ask about product transfers with BM Solutions.
What is a Birmingham Midshires product transfer?
A Birmingham Midshires product transfer is when an existing mortgage customer switches to a new deal with BM Solutions without changing lender. This process is often quicker and simpler than a full remortgage, as there’s no need for a property valuation, legal work, or affordability checks. Product transfers are typically available to customers coming to the end of their fixed or tracker rate period. By switching to a new deal, you can avoid moving onto the lender’s standard variable rate (SVR), which is usually higher. If you already have a Birmingham Midshires mortgage, a product transfer could help you save money and maintain stability in your monthly payments.
What rates are available for BM Solutions product transfers in 2025?
As of early 2025, BM Solutions offers a variety of fixed-rate and tracker-rate product transfer deals. Rates vary depending on factors such as loan-to-value (LTV), product term, and whether the mortgage is for a residential or buy-to-let property. For example, landlords can often access 2-year or 5-year fixed rates starting from around 4.80% to 5.50%, depending on market conditions and LTV. These rates are subject to change, so it’s important to check the latest BM Solutions product transfer options via your broker or a specialist platform like RateSwitcher. If you’re unsure which deal suits your needs, a broker can help you compare options based on your specific circumstances.
Do I need a broker to access BM Solutions product transfers?
Yes, BM Solutions is an intermediary-only lender, which means you can’t apply directly as a borrower. All product transfers must be arranged through a qualified mortgage broker. This ensures you receive expert advice tailored to your situation. A broker can help you assess whether a BM Solutions product transfer is the best option or if a Birmingham Midshires remortgage to another lender might offer better value. Working with a broker also ensures you don’t miss key deadlines, such as when your current deal ends, which could result in moving onto the SVR.
Can I switch products before my current deal ends?
Yes, BM Solutions typically allows borrowers to secure a new product transfer deal up to three months before their current rate expires. This window gives you time to lock in a new rate and avoid any lapse in your mortgage deal. However, switching early may incur early repayment charges (ERCs) if your current deal hasn’t yet ended. Your broker will help you weigh up the costs and benefits of switching early versus waiting until your deal matures. Planning ahead is key, especially in a fluctuating interest rate environment like we’re seeing in 2025.
Are there fees involved in a BM Solutions product transfer?
Some BM Solutions product transfer deals come with no fees, while others may include a product fee—typically around £999. Whether a fee-paying product is right for you depends on your loan size and how long you plan to stay on the new deal. In many cases, fee-free options are available, which can be ideal for smaller loan amounts. Your broker will help you calculate the overall cost of each option, including any fees, to determine the most cost-effective solution for your circumstances.
How long does a BM Solutions product transfer take?
The process is usually quick and straightforward. Once your broker submits the application, the new rate can often be secured within a few days. Since there’s no need for a property valuation or legal work, the turnaround time is much faster than a full remortgage. This efficiency makes product transfers a popular choice for landlords and homeowners looking to avoid the SVR without the delays of switching lenders. If your deal is due to end soon, it’s wise to start the process at least 4–6 weeks in advance to ensure a smooth transition.
What happens if I don’t complete a product transfer in time?
If you don’t arrange a new deal before your current rate expires, your mortgage will automatically revert to BM Solutions’ standard variable rate (SVR). This rate is typically higher than fixed or tracker deals and can lead to a significant increase in your monthly payments. To avoid this, it’s essential to work with your broker to review your options well in advance. Securing a new product transfer deal before your current one ends ensures continuity and protects you from unnecessary costs.
In summary, BM Solutions offers a range of competitive product transfer rates for 2025, giving existing Birmingham Midshires customers a convenient way to stay on a good deal. Whether you’re a landlord or homeowner, working with a broker ensures you get the right advice and access to the latest rates. To learn more about your options, explore our guides on Birmingham Midshires mortgages, BM Solutions product transfers, and Birmingham Midshires remortgages.