If you’re a UK landlord with a limited company mortgage through BM Solutions, understanding your options when your current deal ends is essential. A BM Solutions limited company product transfer can offer a straightforward way to switch to a new rate without the hassle of a full remortgage. With 2025 approaching, many property investors are reviewing their portfolios and looking for ways to manage rising costs while maintaining long-term profitability. This guide answers common questions about limited company product transfers with BM Solutions and helps you make informed decisions about your mortgage strategy.
What is a BM Solutions limited company product transfer?
A BM Solutions limited company product transfer is when you switch your existing BM Solutions mortgage deal to a new rate with the same lender, without changing the mortgage amount or term. This option is available to landlords who hold their buy-to-let property within a limited company structure. It’s a popular choice for those wanting to avoid the legal and valuation fees associated with a full Birmingham Midshires remortgage. Product transfers can typically be arranged quickly, sometimes within a few weeks, and often come with no early repayment charges if timed correctly. For landlords looking to maintain stability and reduce costs in 2025, this can be a smart move.
Who is eligible for a BM Solutions product transfer for limited companies?
To be eligible for a BM Solutions limited company product transfer, your existing mortgage must be with BM Solutions and held in a Special Purpose Vehicle (SPV) limited company. The mortgage account must be up to date, with no arrears, and the property must still meet BM Solutions’ lending criteria. You typically need to be within three months of your current deal ending to secure a new rate. BM Solutions does not offer product transfers for properties held in personal names through this route—only limited companies. If you’re unsure about eligibility or timing, a mortgage broker can help you navigate the process and ensure you don’t miss out on the best rates available for 2025.
What are the benefits of a BM Solutions limited company product transfer?
There are several advantages to choosing a BM Solutions limited company product transfer. Firstly, it’s a quicker and simpler process than a full remortgage, with no need for property valuations or legal work. Secondly, there are often no product or arrangement fees, making it a cost-effective option. You also avoid the potential delays and costs of switching lenders. For landlords looking to manage their portfolio efficiently in 2025, this can be a great way to secure a new rate while keeping administrative hassle to a minimum. Additionally, staying with BM Solutions means you retain the familiarity and service of a lender that understands the buy-to-let market well.
How does a BM Solutions product transfer compare to a remortgage?
While a Birmingham Midshires remortgage allows you to switch lenders and potentially release equity, a product transfer is a simpler internal switch to a new rate. A transfer avoids legal fees, valuations, and credit checks, making it faster and less costly. However, remortgaging may offer more flexibility if you want to borrow more or change your mortgage structure. In 2025, with interest rates still fluctuating, landlords should weigh the benefits of speed and simplicity with a product transfer against the potential for better rates or terms through a remortgage. A qualified broker can help you compare both options based on your goals.
Can I switch to a BM Solutions limited company product transfer early?
Yes, BM Solutions typically allows you to secure a new rate up to three months before your current deal ends. This early switch ensures a smooth transition and avoids slipping onto the lender’s standard variable rate (SVR), which is usually higher. If you’re approaching the end of your fixed term in early 2025, now is a good time to explore your options. By locking in a new rate early, you can protect yourself from potential rate increases and maintain predictable monthly payments. It’s important to check whether any early repayment charges apply if you switch too soon—your broker can guide you through the timing to avoid unnecessary costs.
Are there fees involved in a BM Solutions limited company product transfer?
In most cases, BM Solutions does not charge a fee for a limited company product transfer. However, some products may come with a product fee, depending on the rate you choose. These fees can often be added to the mortgage balance rather than paid upfront. Compared to a full remortgage, the cost savings can be significant, especially when you factor in the absence of legal and valuation fees. Always review the product details carefully or consult a broker to ensure you’re choosing the most cost-effective option for your portfolio. In 2025, keeping costs low while securing a competitive rate is more important than ever for landlords.
Do I need a broker to complete a BM Solutions product transfer?
Yes, BM Solutions only accepts product transfer applications through intermediaries. This means you’ll need to work with a qualified mortgage broker who has access to BM Solutions’ product range. The broker will assess your eligibility, help you choose the best available rate, and manage the application on your behalf. Using a broker ensures you meet all the criteria and deadlines, especially as 2025 brings new challenges and opportunities in the buy-to-let market. A broker can also compare your product transfer options with other lenders to ensure you’re making the most informed decision for your limited company mortgage.
Whether you’re planning ahead for a rate switch in 2025 or reviewing your current buy-to-let strategy, understanding your options with BM Solutions is key. A BM Solutions product transfer can offer a smooth, cost-effective way to secure a new deal without the hassle of a full remortgage. To explore more about your Birmingham Midshires mortgage options, browse our expert guides and stay informed about the latest developments in landlord lending.
