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. A BM Solutions product transfer can offer a straightforward way to switch to a new rate without the hassle of a full remortgage. In this guide, we answer the most common questions about Birmingham Midshires product transfers to help you make an informed decision in 2025 and beyond.
What is a Birmingham Midshires product transfer?
A Birmingham Midshires product transfer is the process of switching your existing mortgage deal to a new one with the same lender, without changing the mortgage amount or term. It’s available to existing BM Solutions customers and is often quicker and more cost-effective than a full Birmingham Midshires remortgage. Product transfers are particularly popular with landlords who want to avoid legal fees, valuations, or credit checks. If your current fixed or tracker deal is ending soon, exploring a product transfer can help you secure a better rate and avoid rolling onto the lender’s standard variable rate (SVR).
Who is eligible for a BM Solutions product transfer?
To be eligible for a BM Solutions product transfer, you must have an existing Birmingham Midshires mortgage that’s within six months of its current deal ending or already on the SVR. Your mortgage account must be up to date with no arrears, and the property must still meet BM Solutions’ lending criteria. Product transfers are available on both residential and buy-to-let mortgages, making them a popular choice for landlords looking to maintain their portfolio efficiently. If you’re unsure whether you qualify, a mortgage broker or product transfer specialist can check your eligibility and guide you through the process.
What are the benefits of doing a product transfer with BM Solutions?
There are several advantages to choosing a BM Solutions product transfer. Firstly, it’s a faster and simpler process than a full remortgage, with no legal work or property valuation required. Secondly, there are typically no arrangement or exit fees, which can save you hundreds of pounds. Thirdly, you can often secure a new rate up to six months before your current deal ends, helping you avoid a period on the SVR. For landlords, maintaining continuity with the same lender also avoids unnecessary administration and tenant disruption. In 2025, with interest rates fluctuating, locking in a competitive rate early could be a smart financial move.
Can I change the mortgage term or borrow more during a product transfer?
BM Solutions product transfers are designed for like-for-like switches, meaning you can’t usually change the mortgage term or borrow additional funds during the transfer. If you need to release equity or adjust your mortgage term, a full Birmingham Midshires remortgage may be more appropriate. However, if your main goal is to secure a better rate on your existing balance, a product transfer is a quick and cost-effective solution. Speak to a mortgage adviser to explore whether a transfer or remortgage better suits your long-term property investment goals.
How do I apply for a Birmingham Midshires product transfer?
The application process for a BM Solutions product transfer is straightforward. You can apply through your mortgage broker, who will access the latest product transfer rates via BM Solutions’ intermediary platform. Your broker will review your current mortgage details, compare available rates, and submit the transfer request on your behalf. Once accepted, your new rate will take effect from the agreed date, usually at the end of your current deal. There’s no need for a solicitor or property valuation, making it a fast and stress-free option for busy landlords and homeowners.
When should I start the product transfer process?
It’s a good idea to begin the product transfer process around three to six months before your current deal ends. BM Solutions allows you to secure a new rate in advance, which helps you avoid falling onto the standard variable rate. In 2025, with continued uncertainty in the mortgage market, early planning is key to securing a competitive rate. By acting early, you’ll have time to compare options, consult your broker, and make a confident decision that aligns with your financial goals.
Are BM Solutions product transfer rates competitive in 2025?
Yes, BM Solutions continues to offer competitive product transfer rates in 2025, especially for existing customers. Rates vary depending on your loan-to-value (LTV), mortgage type, and the length of the new deal. Fixed-rate options are popular among landlords seeking stability in their cash flow, while tracker products may appeal to those expecting future rate reductions. Your broker can help you compare BM Solutions’ latest rates with other lenders to ensure you’re getting the best deal for your circumstances. Always consider the total cost of the mortgage, not just the interest rate.
Ready to explore your options? Whether you’re looking to switch to a better rate or simply want to avoid the SVR, a BM Solutions product transfer could be the right move. Browse our full range of guides to learn more about Birmingham Midshires mortgages and how to optimise your buy-to-let portfolio in 2025.
