If you’re a UK landlord or homeowner with a Birmingham Midshires mortgage, understanding your options for a BM Solutions product transfer can help you save money and manage your property finance more effectively. As we move into 2025, many borrowers are reviewing their current mortgage deals to ensure they’re not overpaying. Whether you’re looking to avoid a standard variable rate or simply want to lock in a better deal, a product transfer with Birmingham Midshires could be the right move. Below, we answer some of the most common questions landlords and brokers ask about this process.
What is a Birmingham Midshires product transfer?
A Birmingham Midshires product transfer is when an existing BM Solutions mortgage customer switches to a new mortgage deal with the same lender, without changing the mortgage amount or term. This is typically done when the initial fixed or tracker rate comes to an end. Instead of moving to the lender’s standard variable rate (SVR), you can choose a new fixed or tracker deal offered by BM Solutions. The process is usually straightforward, doesn’t require a full application or property valuation, and can often be completed quickly. For landlords and homeowners alike, this can be a smart way to maintain competitive mortgage rates without the hassle of a full remortgage.
Who is eligible for a BM Solutions product transfer?
To be eligible for a BM Solutions product transfer, you must already have a Birmingham Midshires mortgage. Your mortgage account must be up to date with no arrears, and you should be within the final six months of your current deal or already on the standard variable rate. BM Solutions typically allows product transfers for both residential and buy-to-let mortgages, provided the property and borrower meet their criteria. If you’re unsure about your eligibility, speaking to a mortgage broker who specialises in Birmingham Midshires can help clarify your options and ensure you get the best deal available for 2025.
How does a BM Solutions product transfer differ from a remortgage?
The key difference between a Birmingham Midshires remortgage and a product transfer is that a remortgage involves switching to a different lender, while a product transfer keeps you with Birmingham Midshires. A remortgage often requires a full application, property valuation, and legal work, whereas a product transfer is quicker and simpler. There are no legal fees or valuation costs, and your direct debit remains unchanged. For landlords with multiple properties, this can be a convenient way to manage your portfolio without unnecessary admin. However, if you’re looking to borrow more or change the term of your loan, a remortgage may be more suitable.
What types of rates are available for BM Solutions product transfers in 2025?
BM Solutions typically offers a range of fixed and tracker rates for product transfers. In 2025, we expect to see competitive 2-year and 5-year fixed rate options, as well as tracker deals that follow the Bank of England base rate. The exact rates available to you will depend on your loan-to-value (LTV) ratio and the type of property you own. For landlords, BM Solutions maintains a strong selection of buy-to-let product transfer rates that are designed to support long-term investment strategies. Working with a specialist broker can help you access exclusive rates and ensure you’re choosing the most suitable product for your needs.
Can I switch early before my current deal ends?
Yes, in many cases you can secure a new deal up to six months before your current Birmingham Midshires mortgage deal ends. This allows you to lock in a new rate ahead of time, protecting you from potential interest rate rises. However, if you switch before your current deal’s end date, you may incur early repayment charges (ERCs). It’s important to weigh the cost of any ERCs against the potential savings of a new deal. A qualified mortgage adviser can help you calculate whether an early product transfer makes financial sense in your situation.
Do I need a solicitor or valuation for a BM Solutions product transfer?
No, one of the main benefits of a BM Solutions product transfer is that it doesn’t require a solicitor or property valuation. Since you’re not changing lenders or borrowing more, the process is administrative rather than legal. This makes it faster and more cost-effective than a remortgage. You simply choose a new product from the options available to you, and the switch is handled internally by Birmingham Midshires. This streamlined process is particularly appealing for landlords managing several properties who want to avoid unnecessary paperwork and fees.
Can I get help from a broker with a Birmingham Midshires product transfer?
Absolutely. Working with a mortgage broker who understands the BM Solutions range can be extremely helpful. Brokers have access to the latest product transfer rates and can guide you through the process, ensuring you don’t miss any deadlines. They can also compare your product transfer options with other lenders to confirm whether staying with Birmingham Midshires is your best move. If you’re unsure where to start, a broker can help you assess your current mortgage, explain your options, and complete the necessary paperwork on your behalf.
Whether you’re a seasoned landlord or a homeowner looking to secure a better deal in 2025, a BM Solutions product transfer could be a smart financial step. To learn more about your options, explore our full range of guides on Birmingham Midshires mortgages and remortgages, and speak to an expert adviser who can help you make the right move for your property goals.
