If you’re a UK landlord or homeowner with a Birmingham Midshires mortgage, you may be wondering about your options when your current deal ends. One of the most straightforward and cost-effective routes is a Birmingham Midshires product transfer. This option allows you to switch to a new mortgage deal with BM Solutions without the need for a full remortgage. In 2025, with interest rates and market conditions constantly changing, understanding your product transfer options is more important than ever. Here, we answer some of the most common questions borrowers and brokers ask about Birmingham Midshires product transfers.
What is a Birmingham Midshires product transfer?
A Birmingham Midshires product transfer is when you switch your existing BM Solutions mortgage to a new deal with the same lender, without changing the mortgage amount or term. It’s a simple process that can often be completed without a credit check, valuation, or legal work. This makes it an attractive option for landlords and homeowners looking to secure a better rate once their current fixed or tracker deal ends. Product transfers are available to both residential and buy-to-let customers, and they can often be arranged up to six months before your current deal expires. If you’re unsure whether a transfer or a full Birmingham Midshires remortgage is better for you, speaking with a mortgage adviser can help you weigh up the pros and cons.
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 and be within six months of your current deal ending. Your account must be up to date with no arrears, and your mortgage must not be in a fixed early repayment charge (ERC) period—unless you’re happy to pay the charge. BM Solutions typically offers product transfers to both individual landlords and limited company borrowers, although the range of products may vary. If you’re a broker managing multiple properties for a client, it’s worth checking the specific criteria for each case. Always review the latest eligibility rules, as they can change year to year, especially as we move into 2025.
What are the benefits of doing a product transfer with Birmingham Midshires?
There are several benefits to choosing a Birmingham Midshires product transfer. First, it’s a quick and hassle-free process—there’s no need for a property valuation, legal work, or affordability checks in most cases. This can be especially advantageous for landlords with complex portfolios or limited company structures. Second, there are typically no arrangement or legal fees involved, making it a cost-effective option. Third, BM Solutions often releases competitive rates exclusively for existing customers, which can help you save money over time. Finally, because you’re staying with the same lender, the process can often be completed in just a few days. If you’re currently on a Birmingham Midshires mortgage, a product transfer could be the simplest way to secure a better deal in 2025.
Can I switch to a new BM Solutions deal before my current rate ends?
Yes, BM Solutions typically allows you to secure a new product up to six months before your current deal ends. This is ideal for borrowers who want to lock in a new rate ahead of time, especially if interest rates are expected to rise. You can choose to have the new deal take effect as soon as your current rate expires, avoiding early repayment charges. This flexibility is particularly useful for landlords managing cash flow across multiple properties. It’s important to act early, as this gives you time to compare your options and avoid reverting to the standard variable rate (SVR), which is usually higher. If you’re unsure when to act, a broker can help you time your BM Solutions product transfer for maximum benefit.
Are there fees involved with a Birmingham Midshires product transfer?
In most cases, there are no legal or valuation fees when completing a Birmingham Midshires product transfer. This is one of the key advantages over a full remortgage. However, some of the new mortgage products offered may include arrangement fees, typically added to the loan or paid upfront. It’s important to review the full terms of any new deal to understand the total cost. BM Solutions also offers fee-free options, which may be more suitable if you’re looking to minimise upfront costs. Always compare the total cost over the deal period, not just the interest rate. A qualified mortgage adviser can help you assess whether a product with a fee offers better long-term value than a fee-free alternative.
Can landlords with multiple properties use BM Solutions product transfers?
Yes, landlords with multiple properties can use BM Solutions product transfers for each eligible mortgage. BM Solutions is a well-established lender in the buy-to-let market and understands the needs of portfolio landlords. Each property is assessed individually, and you can often complete multiple product transfers at once, streamlining the process. This can be particularly beneficial in 2025 as landlords look to manage rising costs and maintain profitability. If your properties are held in a limited company structure, BM Solutions also offers specific products tailored to this setup. It’s advisable to work with a broker experienced in Birmingham Midshires mortgage deals to ensure you select the most suitable options for your portfolio.
In summary, a Birmingham Midshires product transfer is a smart, efficient way to secure a new mortgage deal without the complexity of a full remortgage. Whether you’re a homeowner or a landlord with a growing portfolio, BM Solutions offers flexible options to meet your needs. To explore your eligibility and find the best rates for 2025, browse our expert guides on Birmingham Midshires mortgage products and speak with a trusted adviser today.
