If you’re a UK landlord or homeowner with an existing Birmingham Midshires mortgage, you may be considering your next steps as your current deal ends. One of the simplest and most cost-effective options is a Birmingham Midshires product transfer. This process allows you to switch to a new deal with BM Solutions without the need for a full remortgage — saving time, money, and paperwork. In this guide, we answer the most common questions landlords and brokers have about product transfers with Birmingham Midshires in 2025.
What is a Birmingham Midshires product transfer?
A Birmingham Midshires product transfer is when you switch from your current BM Solutions mortgage deal to a new one with the same lender, without changing the mortgage amount or term. It’s a straightforward process that doesn’t require a full affordability assessment or property valuation, making it ideal for landlords and homeowners looking for a hassle-free way to secure a better rate. Product transfers are typically available within three to six months of your current deal ending, and you can often lock in a new rate early. This is especially useful in 2025’s fluctuating interest rate environment.
Who is eligible for a BM Solutions product transfer?
To be eligible for a BM Solutions product transfer, your mortgage must be with Birmingham Midshires and not in arrears. The property must still meet BM Solutions’ lending criteria, and the mortgage must be on a Buy to Let basis. You won’t need to undergo a new affordability check, which is particularly beneficial for portfolio landlords or those with complex income. If your fixed rate is ending soon or you’re currently on the BM Solutions Standard Variable Rate (SVR), you may be eligible to switch to a new fixed or tracker deal with minimal fuss.
When can I apply for a Birmingham Midshires product transfer?
You can typically apply for a Birmingham Midshires product transfer up to six months before your current deal ends. This allows you to lock in a new rate early and avoid moving onto the lender’s SVR, which is often higher. In 2025, with interest rates expected to remain volatile, early action could save you a significant amount over the life of your mortgage. BM Solutions will usually contact you or your broker in advance, but it’s wise to be proactive and explore your options as soon as you’re within the eligibility window.
Do I need a solicitor or valuation for a product transfer?
No, one of the main advantages of a Birmingham Midshires product transfer is that it doesn’t require a solicitor or property valuation. Since you’re staying with the same lender and not changing the mortgage amount or term, the process is administrative rather than legal. This means fewer fees and a faster turnaround — often within a few days. It’s a cost-effective way to secure a new deal, especially for landlords managing multiple properties who want to keep expenses down.
Can I switch from interest-only to repayment with a product transfer?
In most cases, a product transfer keeps the existing mortgage structure — whether interest-only or repayment — unchanged. However, if you wish to switch from interest-only to repayment, or vice versa, you’ll need to speak with BM Solutions or your broker. This may involve a more detailed review of your circumstances. That said, many landlords prefer to maintain interest-only arrangements for tax efficiency and cash flow reasons. If you’re considering a change, it’s worth reviewing your long-term investment strategy and speaking with a mortgage adviser.
How does a product transfer compare to a Birmingham Midshires remortgage?
Both options allow you to move to a new mortgage deal, but a Birmingham Midshires remortgage involves applying for a new mortgage — either with BM Solutions or another lender. This typically includes a full affordability assessment, credit check, and property valuation. A product transfer, on the other hand, is quicker, cheaper, and doesn’t require legal work. If you’re not looking to borrow more or change your mortgage terms, a product transfer is often the simplest and most cost-effective route in 2025.
Can I make overpayments after a product transfer?
Yes, most BM Solutions products allow overpayments of up to 10% of the outstanding balance per year without penalty. This can be a smart strategy for landlords and homeowners looking to reduce their mortgage balance faster. Be sure to check the specific terms of your new deal, as early repayment charges (ERCs) may apply if you exceed the overpayment limit. Overpayments can be especially useful in 2025 if interest rates remain high and you want to reduce your long-term interest costs.
Whether you’re a seasoned landlord or a first-time investor, understanding your options with a Birmingham Midshires mortgage is key to maximising your returns and managing risk. A BM Solutions product transfer offers a simple, cost-effective way to stay on a competitive rate without the hassle of a full remortgage. To explore your options further, browse our expert guides and speak to a specialist broker who understands the needs of UK property investors in 2025 and beyond.
