If you’re a UK landlord or homeowner with a Birmingham Midshires mortgage, you may be considering your options as your current deal comes to an end. One of the most straightforward ways to secure a new rate is through a BM Solutions product transfer. In this guide, we’ll answer some of the most common questions about Birmingham Midshires product transfers in 2025, helping you make an informed decision with confidence.
What is a Birmingham Midshires product transfer?
A Birmingham Midshires product transfer is when you switch to a new mortgage deal with BM Solutions without changing lender. It’s a simple way to move onto a new fixed or tracker rate when your current deal expires. Product transfers are available to existing customers and typically involve no legal fees, no valuations, and no credit checks. This makes the process quicker and more cost-effective than a full Birmingham Midshires remortgage. If you’re a landlord with a buy-to-let mortgage through BM Solutions, a product transfer can help you avoid the standard variable rate (SVR) and maintain profitability in your portfolio.
Who is eligible for a BM Solutions product transfer?
To be eligible for a BM Solutions product transfer, you must be an existing Birmingham Midshires customer with a mortgage that is within six months of its current deal ending. Your account must be up to date with no arrears, and the mortgage must not be in a fixed early repayment charge (ERC) period unless you’re willing to pay the fee. Product transfers are available for both residential and buy-to-let mortgages. If you’re unsure about your eligibility, a mortgage broker can help you review your options and confirm whether a transfer is the right move. You can also explore the latest Birmingham Midshires mortgage rates to see what’s currently available in 2025.
How long does a BM Solutions product transfer take?
One of the biggest advantages of a BM Solutions product transfer is the speed of the process. In most cases, a product transfer can be completed within 5 to 10 working days. Since there are no legal or valuation requirements, the paperwork is minimal, and you can often complete the process online or through your broker. This makes it an ideal option for landlords and homeowners who want to secure a new rate quickly and avoid moving onto the SVR. If your current deal is ending soon, it’s wise to start the process early to ensure a smooth transition.
Can I choose any mortgage product when I transfer?
BM Solutions offers a range of fixed and tracker rate products for transfers, but the selection is limited to what’s available to existing customers at the time. These deals are often competitive, especially for buy-to-let borrowers looking to maintain cash flow. The rates and terms you’re eligible for will depend on your remaining mortgage balance, loan-to-value (LTV), and property type. It’s worth comparing the available options with the help of a broker to ensure you’re getting the most suitable deal. You can also check the latest BM Solutions product transfer rates to see what’s on offer in 2025.
Are there any fees involved in a product transfer?
Generally, there are no legal or valuation fees involved in a BM Solutions product transfer, which makes it a cost-effective alternative to remortgaging. However, some mortgage products may come with a product fee, typically ranging from £0 to £1,995. You can often choose between a fee-free option with a slightly higher interest rate or a lower rate with a fee. It’s important to calculate the total cost over the term to decide which option offers better value. A broker can help you compare the true cost of each deal to find the most suitable one for your circumstances.
Can I make changes to my mortgage during a product transfer?
BM Solutions product transfers are designed to be straightforward, so they generally don’t allow for major changes to your mortgage terms. You won’t be able to borrow more, change the mortgage term, or switch property types during the transfer. If you need to make significant changes, such as capital raising or term extension, you may need to consider a full Birmingham Midshires remortgage instead. That said, some minor adjustments may be possible depending on your circumstances, so it’s worth discussing your goals with a broker before proceeding.
Is a product transfer better than remortgaging to a new lender?
Whether a product transfer or remortgage is better depends on your individual needs. A BM Solutions product transfer is quicker, easier, and often cheaper since there are no legal or valuation fees. It’s ideal if you want to avoid hassle and secure a new rate with your current lender. However, remortgaging to a new lender may offer access to a wider range of products, potentially with lower rates or more flexible features. If you have significant equity or want to release funds, a remortgage might be more suitable. A mortgage broker can help you compare both options and decide what’s best for your situation in 2025.
In summary, a BM Solutions product transfer is a smart, efficient way for Birmingham Midshires customers to secure a new mortgage deal in 2025. Whether you’re a landlord managing multiple properties or a homeowner looking to avoid the SVR, product transfers offer flexibility and speed. To learn more, explore our full range of guides on Birmingham Midshires mortgage options or speak with a specialist broker today.
