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Remortgage with BM Solutions
Access exclusive BM Solutions remortgage deals with expert, fee-free advice. Whether you're looking to lower payments, borrow more, or secure a better rate, we're here to help!
Product Transfers
with BM Solutions
BM Solutions offers an easy process for product transfers, allowing existing mortgage customers to switch to a new rate without altering their mortgage terms. This option is ideal for those approaching the end of a fixed rate, helping them avoid higher standard variable rates.
With no need for property valuations or legal work, transfers are quick and hassle-free. Advisors assist customers in finding competitive products that match their needs, ensuring affordability and a seamless transition to a new deal.
4 Steps to a bM product transfer
Follow these four simple steps to remortgage with BM Solutions
1
Eligibility Check
Confirm that the mortgage qualifies for a product transfer. This is usually available to existing BM Solutions customers nearing the end of their fixed term
2
Product Selection
Review the range of available products, considering the borrower’s financial situation and preferences, with the help of an advisor if needed
3
Application Submission
Submit the product transfer request, often via BM Solutions’ online portal, without the need for valuations or legal work
4
Confirmation
Receive confirmation of the transfer and new terms, ensuring a seamless transition to the chosen mortgage product
Key Advantages to a
BM Solutions
Product Transfer
Consider these four important facets of a product transfer with BM Solutions
No Legal or Valuation Costs
Product transfers with BM Solutions do not require legal work or property valuations, saving time and money
Access to Competitive Rates
Customers can switch to a range of competitive mortgage products tailored to their financial needs
Quick and Simple Process
The transfer process is streamlined, ensuring minimal paperwork and fast approval for eligible customers
Maintain Existing Mortgage Terms
Clients keep their current mortgage structure while securing a new rate, avoiding unnecessary changes or complexities
about product transfers
Why Remortgage with BM Solutions?
A product transfer with BM Solutions offers a quick, hassle-free way to secure a competitive new rate, avoid higher standard variable rates, and maintain existing terms—without valuations or legal work. Our advisors ensure a seamless, tailored transition.
Get Started Today
BMI Money simplifies product transfers with BM Solutions by offering expert advice, guiding clients through product selection, managing the application process, and ensuring a smooth transition to the new mortgage rate.
Talk with us about a BM Solutions Product Transfer
FAQ
about
BM
Solutions
What is a product transfer?
A product transfer involves switching your existing mortgage to a new deal with BM Solutions without changing your lender. This allows you to secure a new interest rate or mortgage term that better suits your current financial situation.
When can I submit a product transfer request?
Product transfer requests can be submitted at any time during the month. The earliest a product transfer can commence is on the 1st of the following month.
Are there any fees associated with product transfers?
Yes, there is a £100 fee (from BM Solutions) for product transfer revaluations.
How does BM Solutions handle transfers or purchases of equity?
Transfers or purchases of equity are treated as new remortgage applications with revised terms and conditions, which may result in different monthly payments. The process begins with a product request.
What are the eligibility criteria for remortgaging with BM Solutions?
BM Solutions has specific eligibility criteria for their buy-to-let and let-to-buy mortgages. It’s advisable to review these criteria to ensure you meet the necessary requirements.
Are product transfers and transfers of equity affected by EPC regulations?
No, product transfers and transfers of equity are exempt from current and proposed EPC regulations.
Does BM Solutions offer tools to assist with mortgage calculations?
Yes, BM Solutions provides calculators to help determine the correct stress rate and rental cover ratio (RCR) for calculating the maximum borrowing available.
How can I initiate a product transfer or remortgage with BM Solutions?
Talk with BMI Money today, we’re well placed to help with BM product transfers and remortgages
Can I initiate a product transfer before my current mortgage deal expires?
Yes, BM Solutions allows you to switch to a new product up to six months before your existing product expires without incurring early repayment charges.
Do I need a broker to apply for a BM Solutions product transfer?
Yes, BM Solutions requires that all product transfer requests be submitted through an intermediary. Talk with BMI Money today to see how we can help.
Are there specific lending criteria I must meet for a remortgage with BM Solutions?
Yes, BM Solutions has specific lending criteria for their buy-to-let and let-to-buy mortgages. It’s important to review these criteria to ensure you meet the necessary requirements.
How does BM Solutions determine the value of my property for a product transfer?
BM Solutions uses an indexed valuation to assess your property’s value during a product transfer. If you believe this valuation is inaccurate, you can request a revaluation for a £100 fee.
What are the early repayment charges (ERCs) associated with BM Solutions' fixed-rate products?
BM Solutions’ fixed-rate products typically have ERCs that decrease over time. For example, a two-year fixed-rate product may have an ERC of 2% in the first year and 1% in the second year. A five-year fixed-rate product may have ERCs starting at 5% in the first year, decreasing by 1% each subsequent year.
