Whether you’re a seasoned landlord or a homeowner looking to manage your mortgage more efficiently, understanding your options with a Birmingham Midshires mortgage is key. One of the most popular choices for existing BM Solutions customers in 2025 is the 1.1 product transfer – a straightforward way to secure a new deal without switching lenders. In this guide, we answer the most common questions about the 1.1 product transfer and what it means for you.
What is a Birmingham Midshires 1.1 product transfer?
The 1.1 product transfer refers to a specific mortgage rate or product offered by Birmingham Midshires (BM Solutions) to existing customers who are coming to the end of their current deal. Instead of remortgaging with a new lender, a product transfer allows you to switch to a new rate with BM Solutions, often with no legal fees, valuations, or credit checks. The “1.1” typically refers to a fixed interest rate of 1.1%, although rates may vary depending on your loan-to-value (LTV) and the specific products available in 2025. This option is particularly attractive to landlords and homeowners looking for a hassle-free way to secure a competitive rate while staying with their current lender.
Who is eligible for a BM Solutions 1.1 product transfer?
Eligibility for a 1.1 product transfer with BM Solutions is generally limited to existing Birmingham Midshires customers. You must be within the final few months of your current mortgage deal or already on the lender’s Standard Variable Rate (SVR). Additionally, your mortgage account must be up to date, with no arrears or missed payments. BM Solutions typically offers product transfers to both residential and buy-to-let mortgage holders, making it a flexible solution for a wide range of borrowers. If you’re unsure about your eligibility, it’s best to speak with a mortgage adviser or your broker, who can check the current criteria and help you explore your options.
Is a product transfer better than a remortgage?
Whether a product transfer or a remortgage is better depends on your individual circumstances. A Birmingham Midshires remortgage involves switching to a new lender, which can offer access to a wider range of deals – but it also comes with additional costs such as legal fees, valuations, and affordability checks. A product transfer, on the other hand, is quicker, simpler, and often fee-free. If the 1.1 product transfer rate is competitive and suits your needs, it can be a smart choice. However, if you’re looking to borrow more, change the term, or access better rates elsewhere, remortgaging might be worth considering. Always compare both options before making a decision.
Can landlords use the 1.1 product transfer for buy-to-let properties?
Yes, landlords with buy-to-let mortgages through BM Solutions can often take advantage of the 1.1 product transfer. BM Solutions is a specialist lender for landlords, and their product transfer options are designed with property investors in mind. Whether you own a single rental property or a portfolio, the process is typically straightforward and doesn’t require a new affordability assessment. This makes it a convenient option for landlords who want to avoid the hassle of remortgaging while still securing a competitive rate. If you’re managing multiple properties, a product transfer can also help streamline your finances and reduce paperwork.
How do I apply for a 1.1 product transfer with Birmingham Midshires?
Applying for a 1.1 product transfer is usually done through your mortgage broker, as BM Solutions does not deal directly with the public. Your broker will access the BM Solutions portal, review the available product transfer rates, and help you select the most suitable deal. Once you’ve chosen a new product, the switch can often be completed within a few days. There’s no need for a property valuation, legal work, or credit check, making it one of the simplest ways to secure a new mortgage deal in 2025. If you don’t have a broker, it’s worth finding one who is experienced with BM Solutions product transfers.
Are there any fees involved in a 1.1 product transfer?
In most cases, a 1.1 product transfer with BM Solutions is fee-free. There are typically no legal fees, valuation costs, or arrangement charges, which makes it a cost-effective alternative to remortgaging. However, some products may include a product fee, especially if they offer a particularly low interest rate. Your broker will be able to confirm whether any fees apply to the specific product you’re considering. Always review the full Key Facts Illustration (KFI) before proceeding, so you understand the total cost of the new deal over the term.
When is the best time to request a product transfer?
The best time to start the product transfer process is around three to four months before your current mortgage deal ends. This gives you enough time to review your options and lock in a new rate before moving onto BM Solutions’ Standard Variable Rate (SVR), which is often higher. In 2025, with interest rates fluctuating, acting early can help you secure a more favourable deal. Your broker can monitor the market and advise on the right time to make the switch, ensuring you don’t miss out on the most competitive rates available.
In summary, the 1.1 product transfer is a valuable option for existing BM Solutions customers looking for a simple, cost-effective way to secure a new mortgage deal. Whether you’re a landlord managing a portfolio or a homeowner nearing the end of your fixed rate, it’s worth exploring this option with your broker. For more expert insights, browse our guides on Birmingham Midshires mortgage options, BM Solutions product transfers, and Birmingham Midshires remortgage solutions.
