BM Solutions – Switch Your Mortgage Rate with a Broker

BM Solutions Switch Rates

Switching Rates and Product Transfers with BM Solutions

If you are coming to the end of your fixed rate with BM Solutions (Birmingham Midshires), or you are already on the standard variable rate, brokers can take a look at your switch rate options and some don’t charge a broker fee to process the switch. Switching rates to a new deal is also known as a ‘product transfer’ – your ‘product’ being the mortgage deal you are currently on.

It’s a very quick process and most switch rates can be organised on the very same day. This is because the broker only has to complete a few details as your mortgage lender will hold all of your account information already. So it’s far less hassle than applying for a new mortgage and, in most cases, if you have kept your account in good order there are no new assessments required. See our full switch rate guide for more information.

How to Switch Rates with BM Solutions:

At the time of writing, product transfers and switch rates with BM Solutions can only be carried out by a registered mortgage broker. Brokers are fully authorised to switch your mortgage rate with Birmingham Midshires and they will give you all of the switch rate options that are available.

Same Day Switch Online:

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What to be aware of before you switch:

Before you begin the process it is important to note that any arrears on your mortgage will need to be cleared with BM Solutions directly before we can proceed with switching your rate.

A product transfer can be submitted up to 60 days prior to your existing product end date. If your usual payment date for the mortgage is within 17 days, BM will hold the transfer until after your current monthly payment is taken. If your usual payment date is not within 17 days, BM will arrange the product transfer to take effect ASAP.

A product transfer to switch rates is only suitable if you don’t want to make any material changes to your mortgage. You will need to accept the property valuation given by the lender which will be a basic desktop valuation. No physical property inspection will be carried out.

Portfolio Landlords

If you own a number of buy-to-let properties and portfolio landlord restrictions are preventing you from completing a remortgage elsewhere, we can switch you to a better deal on the same day even if you have multiple mortgage accounts. As long as the properties are still rented and your payments are up-to-date.

Ben - Author

Author: Ben, Glow (CeMAP, BSc Hons)

Date Published: 5th March 2020

Updated: 12th October 2022