BM Solutions Buy to Let Mortgage Product Transfer Advice
If your BM Solutions buy to let mortgage deal is coming to an end, we will review what BM Solutions can offer you alongside rates from across the buy to let market and give you a recommendation based on your circumstances. BM Solutions is an intermediary-only lender, which means a broker is not just a useful route to a product transfer, it is the only route. For a straightforward rate switch, we charge no client fee.
Why use Aspect Mortgages for your BM Solutions product transfer?
Advice, not just information. We recommend the right option for you, not just the path of least resistance.
Whole market comparison. We check the buy to let market before recommending you stay with BM Solutions.
No fee for a like-for-like rate switch. Straightforward advice at no cost to you.
We lock in your rate early. BM Solutions opens its window four months ahead. We act as soon as you are eligible.
We sense-check rates before completion. A few weeks before your new deal starts, we review the latest rates to make sure you are still on the best available option.
We look after you for life. We will remind you before every future deal end date so you never drift onto the Standard Variable Rate.
What is BM Solutions?
BM Solutions is the buy to let lending brand of Birmingham Midshires, which is itself part of Lloyds Banking Group. BM Solutions operates exclusively through mortgage intermediaries and has no direct customer-facing application route. All product transfers, purchases, remortgages and further advances must be arranged through a registered broker.
This is worth understanding because it shapes how a product transfer works. You will not find a BM Solutions branch to walk into or a customer website to log into to arrange your rate switch. The intermediary portal is the only route, which means working with a broker is not optional — it is how the process works.
BM Solutions is one of the largest buy to let lenders in the UK and is well regarded for its product range and criteria flexibility, particularly for landlords with larger portfolios and for let to buy cases.
How does a BM Solutions product transfer work?
When your current BM Solutions deal ends, you will be offered a new rate from their existing customer range. No solicitor is required, and for a like-for-like switch, no new credit check, affordability assessment or rental stress test is applied.
The booking window is four months through a broker. BM Solutions is part of Lloyds Banking Group and operates on the same product transfer timelines as Halifax. You become eligible to lock in a new rate four months before your current deal expires when applying through a broker. We recommend speaking to us around this point so we have time to compare the buy to let market properly before you commit.
No credit check and no rental stress test for a like-for-like switch. This is one of the most important points for existing BM Solutions customers. A product transfer to the same loan amount and property does not trigger a new credit assessment. Crucially, the rental stress test that would apply to a new buy to let mortgage application does not apply either. This means that even if rental income or current stress test rates mean you would not qualify for equivalent lending today, you can still do a product transfer on your existing loan. Many landlords find themselves in this position following changes to stress test requirements since their original mortgage completed.
LTV is calculated by indexation. BM Solutions does not require a new physical valuation for a product transfer. Instead, they apply an indexed valuation based on local house price movements since the original purchase. This determines which products you are eligible for. If your property has risen significantly in value, the indexed figure may not fully reflect this, but for a standard product transfer the indexed valuation is used automatically.
If your deal has already ended, you will be on BM Solutions' Standard Variable Rate, which is considerably higher than their fixed rate product range. There are no early repayment charges on the SVR. If you are currently on the SVR, it is worth acting promptly. Customers on the SVR can apply for a product transfer at any time.
Use our repayment calculator to see what a change in rate could mean for your monthly payments before we speak.
For many buy to let property owners, particularly those in unstable financial circumstances or with limited equity, a product transfer can be the most practical and cost-efficient option. But it is not automatically the right choice, which is why it is worth speaking to an adviser about your options.
What if you want to make changes at the same time?
A standard BM Solutions product transfer covers a like-for-like rate switch. The following changes require separate handling:
Additional borrowing (further advance) can be arranged alongside a product transfer but must be submitted as a separate application. The minimum further advance amount is £5,000. A further advance is subject to full underwriting, including a rental stress test and credit assessment. It is not available within six months of completing the original mortgage or a previous further advance. If additional borrowing is part of the picture, we will manage both applications and sequence them appropriately.
Changing your mortgage term is not available through the standard product transfer route and would require a full application.
Adding or removing a borrower also requires a full application and is outside the product transfer process.
Where structural changes are involved, it is worth considering whether remortgaging to a new lender might offer better terms overall. We charge a fee of £495 for advice on applications involving structural changes and will always make this clear before you commit to anything.
BM Solutions Product Transfer vs Remortgage
For many landlords, the BM Solutions product transfer is the right route. The absence of a rental stress test makes it particularly valuable for those whose rental income position has changed since they originally took out the mortgage. The six-month booking window and competitive rate range add to that case.
That said, the buy to let market is competitive and it is always worth checking whether another lender can offer better terms. We have access to the wider buy to let market and will compare BM Solutions against alternatives before making a recommendation. Sometimes staying with BM Solutions is clearly the right answer. Sometimes a remortgage to a new lender will offer a lower rate or more flexibility, particularly if your LTV has improved or your portfolio circumstances have changed. We will give you a straight recommendation either way.
We do not charge a fee for a like-for-like rate switch. Our standard advice fee of £495 applies when structural changes are involved. You can also find the full range of mortgage services we offer, including our specialist buy to let mortgage advice.
Frequently Asked Questions
Can I do a BM Solutions product transfer through a broker?
Yes, and it is the only way to do it. BM Solutions is an intermediary-only lender and does not accept product transfer applications directly from customers. All applications must go through a registered mortgage broker. We access BM Solutions through their intermediary portal, compare their rates against the wider buy to let market, and give you a clear recommendation before anything is submitted.
When can I start a BM Solutions product transfer?
BM Solutions is part of Lloyds Banking Group and follows the same product transfer timelines as Halifax. This means the booking window opens four months before your current deal expires when applying through a broker. We recommend speaking to us around this time so we have the opportunity to compare the buy to let market before you commit.
Does BM Solutions carry out a credit check for a product transfer?
No, not for a standard like-for-like rate switch. BM Solutions does not carry out a new credit assessment for existing customers switching rates on the same terms. The rental stress test that would apply to a new mortgage application does not apply to a like-for-like product transfer.
My rental income would not pass BM Solutions stress tests today. Can I still do a product transfer?
Yes, and this is an important point for many landlords. If rental income or stress test rules have changed since you originally took out the mortgage, that does not prevent you from doing a like-for-like product transfer. The rental stress test applies to new lending only. This means a product transfer with BM Solutions may remain available to you even if remortgaging to a new lender on the same terms would not be possible.
How does BM Solutions calculate my loan-to-value for a product transfer?
BM Solutions uses an indexed valuation rather than a new physical valuation. They apply local house price trends to the original property value to estimate its current value, and this determines which products you are eligible for. If you believe the property has risen significantly in value, the indexed figure may not reflect this fully, but the indexed valuation is used automatically for a standard product transfer.
Can I borrow more at the same time as a BM Solutions product transfer?
Yes. BM Solutions allows a further advance to be arranged alongside a product transfer, but it must be submitted as a separate application. The minimum further advance is £5,000. Full underwriting applies to the additional borrowing, including a rental stress test and credit assessment. A further advance is not available within six months of completing the original mortgage or a previous further advance.
What other mortgage services does Aspect Mortgages offer?
As well as buy to let product transfers, we advise on buy to let mortgages, remortgages, residential mortgages, and specialist lending for self-employed applicants, contractors and professionals.
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There will be a fee for mortgage advice. The precise amount will depend upon your circumstances but we estimate that it will be £495 for a residential/buy to let mortgage or £1495 for an equity release/retirement mortgage.
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