If you’re a UK landlord or homeowner with an existing Birmingham Midshires mortgage, you may be considering your options as your current deal comes to an end. One of the most straightforward ways to secure a new rate is through a Birmingham Midshires product transfer. This process allows you to switch to a new rate with BM Solutions without the need for legal work or a full remortgage. In this guide, we’ll answer some of the most common questions borrowers and brokers ask about Birmingham Midshires product transfers in 2025.
What is a Birmingham Midshires product transfer?
A Birmingham Midshires product transfer is when an existing BM Solutions customer switches to a new mortgage rate with the same lender at the end of their current deal. This is a popular option for landlords and homeowners who want to avoid the hassle and cost of a full Birmingham Midshires remortgage. Product transfers are generally quicker, with no need for property valuations, legal work, or affordability checks in most cases. For many, it’s a simple way to secure a better rate and avoid moving onto BM’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 mortgage with Birmingham Midshires and be within the final six months of your current deal. 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 for both residential and buy-to-let mortgages. If you’re unsure whether you qualify, a mortgage broker can check your eligibility and help you compare available rates.
When can I apply for a Birmingham Midshires product transfer?
You can typically apply for a Birmingham Midshires mortgage product transfer up to six months before your current deal ends. This allows you to secure a new rate in advance and avoid rolling onto the SVR. The new rate will take effect the day after your current deal expires. Applying early gives you peace of mind and helps you plan your finances more effectively, especially in a changing interest rate environment like we’re seeing in 2025.
Do I need a solicitor or valuation for a product transfer?
No, one of the main benefits of a BM Solutions product transfer is that it doesn’t require solicitors, valuations, or lengthy paperwork. Since you’re staying with the same lender and not changing the terms of your mortgage significantly, the process is streamlined and straightforward. This makes it an attractive option for landlords with multiple properties or busy homeowners who want to avoid the delays and costs associated with a full remortgage.
Can I switch to a different lender instead of doing a product transfer?
Yes, you can choose to remortgage to a different lender if you find a more competitive deal elsewhere. However, this will involve more steps, including affordability checks, a property valuation, and legal work. While a Birmingham Midshires remortgage may offer more flexibility, many borrowers opt for a product transfer to avoid the extra time and costs. It’s worth comparing both options with a mortgage broker to see which one offers the best long-term value.
Are product transfer rates competitive in 2025?
In 2025, BM Solutions continues to offer competitive product transfer rates for both residential and buy-to-let customers. While rates may vary depending on your loan-to-value (LTV) and mortgage type, many landlords find that the simplicity and speed of a product transfer outweigh the slightly lower rates sometimes available through remortgaging. It’s always wise to compare your options, especially if you have a large portfolio or complex financial situation.
Can I make changes to my mortgage during a product transfer?
Generally, a product transfer allows you to switch to a new rate without changing other terms of your mortgage. However, some minor changes—such as adjusting your payment method or switching from interest-only to repayment—may be possible. If you need to make significant changes, such as borrowing more or changing the mortgage term, a full remortgage may be required. Speak to a broker to understand what’s possible based on your circumstances.
In conclusion, a BM Solutions product transfer is a smart, hassle-free way for existing Birmingham Midshires customers to secure a new rate in 2025. Whether you’re a landlord with a portfolio of properties or a homeowner looking to avoid SVR, this option offers speed, simplicity, and cost savings. To explore your options further, browse our full range of guides on Birmingham Midshires mortgage products and speak to an expert broker today.
