Your BM Solutions deal is ending, and you have three options. You can switch to a new deal with BM, which is called a product transfer. You can move to a different mortgage lender. Or you can do nothing, which is the expensive option.
Over the past two years, 85 BM clients came to YesCanDo Money with the interest rate ending. Sixty-seven stayed and eighteen moved. This page is about how to tell which one you are, and what a BM Solutions product transfer actually involves.
You cannot arrange any option directly with BM Solutions mortgages yourself, because they only lend through brokers. We are a family-run, fee-free mortgage broker with access to over 90 mortgage lenders, so getting it sorted through us costs you nothing.
New to BM Solutions rather than an existing BM Solutions customer? Read our guide to BM Solutions mortgages instead.
What happens when my BM Solutions deal ends?
Your mortgage moves onto the BM Solutions standard variable rate automatically. No letter arrives asking what you would like to do, and nobody rings.
You can avoid it entirely by lining up a new deal up to six months before your current one ends.
What is the BM Solutions standard variable rate?
The standard variable rate is what your mortgage falls onto when your deal ends and you do nothing. BM sets it and can change it whenever they choose.
The BM Solutions standard variable rate is currently 8.09% (correct as of July 2026). That is roughly double what a landlord would pay on a new deal, and it is the single most expensive place a buy-to-let mortgage can sit.
On a £150,000 interest-only mortgage, the difference between the standard variable rate and a typical new deal is in the region of £450 a month. BM Solutions mortgage rates change, so check the current figure with us, but the gap is always large.
Should I ever stay on it?
Almost never. The one exception is if you are selling within a few months, because the standard variable rate carries no early repayment charge. Paying a higher rate briefly can beat fixing and then paying to get out. That is a calculation worth doing properly rather than assuming.
What are my three options?
With a product transfer, nothing about the mortgage changes except the rate. That is why it is quick.
| Product transfer | Remortgage elsewhere | Do nothing | |
|---|---|---|---|
| What it means | A new deal with BM Solutions | Moving to a different lender | Falling onto the standard variable rate |
| How long | Usually same day. Across 130 we have arranged, 96% were offered same day. | Several weeks | Immediate |
| Affordability check | No, in most cases | Yes, full assessment | No |
| Valuation | No, BM estimates the value | Yes | No |
| Solicitor | No | Usually yes | No |
| Best when | Speed matters, or your circumstances have changed | Another lender is meaningfully cheaper and you qualify | Almost never |
> Not sure which applies to you? Tell us when your BM deal ends and we will price both routes. Speak to an adviser
What do our cases show about staying or moving?
Of those 85 clients:
- 61 switched to a new BM deal through a product transfer
- 6 stayed with BM through a remortgage or additional borrowing
- 18 moved to a different lender
Figures from BM Solutions cases arranged by YesCanDo Money over the two years to July 2026, covering clients who already held a BM mortgage.
Roughly four in five stayed. That is not a recommendation. It reflects something more specific: a product transfer works in situations where a remortgage will not.
When is staying with BM Solutions the right call?
Five reasons come up repeatedly in our own case records.
Part of your mortgage is still tied in. Many BM mortgages are split across two or more sub-accounts with different end dates. If one part is still inside its fixed period, moving lender means repaying all of it and paying an early repayment charge on the part that has not finished. We have several cases where the client wanted to move and stayed because that charge cost more than the rate saving was worth.
Your lease is short. BM needs at least 70 years remaining for new lending. One client had 60 years left, which ruled out a remortgage entirely. A transfer needs no fresh criteria check, so it went through.
Your income has dropped. A remortgage means a full affordability assessment on today’s income. A transfer, in most cases, does not.
You have run out of time. One client had a week left on their fixed rate. Another had a remortgage submitted, hit delays at the solicitor, landed on the standard variable rate, and switched to a transfer to stop the damage.
You are planning to sell. If you expect to sell within a year or two, the early repayment charge matters more than the rate. There is an example of exactly that below.
When is a remortgage to another lender better?
BM Solutions is part of Lloyds Banking Group, and their lending rules are set accordingly. Of the 18 clients we moved away from BM, around half went for a better rate or a product with no arrangement fee elsewhere. The rest moved because those rules did not stretch far enough:
- A rental income calculation another lender could beat. BM needs the rent to cover 125% of the monthly payment for a basic rate taxpayer, or 145% for a higher-rate taxpayer. Our guide to how much Birmingham Midshires will lend works the calculation through in full.
- A higher maximum loan. BM caps standard lending at 75% of the property value.
- Recently becoming self-employed, where another lender was more comfortable.
The Mortgage Works was the most common destination. We are paid whether you stay or move, so we have no reason to steer you either way.
A transfer also does not reopen the portfolio landlord assessment, which is worth knowing if you hold several properties. Our guide to Birmingham Midshires buy-to-let mortgages covers how the portfolio rules work.
Client case study: 231 products searched, and staying still won
Luke McNally, CeMAP qualified, one of our expert mortgage advisers, on a recent case.
The situation. My client had a buy-to-let property worth around £290,000 with just under £197,000 outstanding with BM Solutions. The fixed rate ended on 31 March 2026, and they were planning to sell within a couple of years. This changes things, because if you sell partway through a fixed rate, the early repayment charge can swallow whatever the lower rate saved you.
What I did. I searched the whole market first, as we do on every case, because staying should never be the default. This one returned 231 products from 97 lenders. Worth noting that the lowest headline rate in the search, 3.99% from The Mortgage Works, worked out around £3,100 more expensive over two years once fees were counted.
BM’s own rate was not in those results, because BM does not release product transfer rates to sourcing systems. I requested it directly and compared it by hand. Their early repayment charges came in at roughly half those attached to the alternatives, and with a sale coming that mattered more than a small difference in rate. I recommended a two-year tracker with no product fee, keeping the same term.
Had they been holding the property another ten years, one of the market options would very likely have won. The advice changed because their plans did.
The outcome. The mortgage application went in on 5 March and BM issued the offer the same day, which is typical of BM and quick even by the standards of the fastest lenders we track. The new rate started on 1 April, so my client never spent a day on the standard variable rate.
We will search the whole market for you. Then we request your BM rate and show you how the two compare, at no charge. Speak to an adviser
How does a BM Solutions product transfer work?
If a product transfer looks like the right advice, here is what actually happens. Most of it involves very little work from you.
When can I book my new BM Solutions rate?
You can secure a new fixed rate or tracker rate up to six months before your current one ends. Better still, your new rate can start up to three months early without an early repayment charge. If your rate expires on 1 September, you can start a new one from 1 June and skip three months of a worse rate.
There is no advantage in waiting. If mortgage rates rise, you keep the rate you secured. If they fall before your new deal starts, we apply for the lower rate and lock that in instead. We use a rate monitoring tool called Mortgage Metrix that alerts us when mortgage lenders move their rates, so we are not relying on you noticing.
Aim to have it settled at least two months before your deal ends.
Will I need a valuation or an affordability check?
In most cases, no to either. That is what makes a transfer quick, and why it works when a remortgage will not.
Rather than sending a surveyor, Birmingham Midshires estimates your loan to value, usually shortened to LTV, by indexing: taking what the property was worth when you took the mortgage out and applying local house price movement.
That cuts both ways. No surveyor means no risk of a down-valuation, which is a genuine concern with BM. But if your property has outperformed the local average, indexing will not pick that up and you could sit in a worse LTV band than you deserve.
You can ask for a new valuation instead, using BM’s Product Transfer Revaluation Authority form, but it has to be done before the mortgage application goes in. Worth considering if you have extended or renovated.
What about early repayment charges?
Switch within the last three months of your deal, and BM does not charge an early repayment charge.
Two things to watch. BM lets you overpay up to 10% of your balance each calendar year without a charge, but if you repay in full within six months of an overpayment, they can charge you retrospectively on it. And if your mortgage is split across sub-accounts, moving lender means paying a charge on any part still fixed. We check both before recommending anything.
Can I borrow more at the same time?
Yes, and this changed in April 2026. BM used to require two separate applications for a transfer and a further advance. They now accept one combined application, so both go through together. Most pages on this subject still say otherwise.
A further advance is assessed on affordability and LTV, unlike the transfer itself. It is not available within six months of your original mortgage completing, any arrears must be cleared, and capital raising is not accepted for business purposes, timeshares or gambling.
It is not a formality. One of our clients was declined because of their credit card balances, and we placed them elsewhere.
What do I need to get started?
- Your BM mortgage account number. It starts with 60. If you find one starting with 2 or 02, that is an old number. It is on your annual statement or your direct debit entry.
- The date your current deal ends, also on your annual statement.
- Who is on the mortgage, and whether it is held personally or through a company.
We request your balance and valuation from BM, so you do not need those.
What happens once I say yes?
- Your case goes to a named client support manager who owns it until your new rate starts.
- We deal with BM rather than you. As a broker-only lender they will not discuss your case with you directly, so chasing them is our job.
- We keep you updated on WhatsApp if that suits you, and confirm the switch on the day it takes effect so nothing quietly lapses.
None of it costs you anything. We are paid by the lender when your new deal completes.
BM Solutions product transfer rates
BM Solutions does not publish its product transfer rates. They are worked out individually from your balance and indexed LTV, and you cannot look them up or request them yourself.
What you can see is what moving would get you. Below are buy-to-let remortgage rates currently available to new customers across the market, BM’s own included.
That is the comparison, not the answer. We request your actual transfer rate from BM and set it against these to see which leaves you better off across the whole deal. Both fixed rates and trackers are normally available, and on a smaller mortgage a product with no arrangement fee at a slightly higher rate often beats the lowest rate with a large one.
Rates are subject to change and to your circumstances. Anything shown is an indication rather than an offer.
Want your actual BM rate? We can request it and compare it against the market today. Speak to an adviser
Common questions
Can I apply for a BM Solutions product transfer myself?
No. BM only accepts applications through mortgage brokers. We do not charge a fee for arranging one, and you can see how we are paid instead.
What if I am already on the standard variable rate?
You can switch at any time with no early repayment charge, because your fixed period has already finished. There is nothing to wait for.
Can I cancel after applying?
Yes. Tell us and we will deal with BM on your behalf. The sooner the better.
Does a product transfer affect my credit file?
It does not usually involve a credit check, because you are not taking on new borrowing. If you add a further advance, that part is assessed properly.
Can I change the term or switch to interest only?
Sometimes, though not always. Ask us to check your specific mortgage.
Does BM offer trackers as well as fixed rates?
Yes, both are normally available on a transfer. Which suits you depends on whether you value certainty or flexibility, and how long you plan to keep the property.
How YesCanDo Money can help
You cannot arrange a BM Solutions product transfer without a broker, so the only question is which one.
We retrieve what BM Solutions is offering existing customers and compare it against the whole market, rather than assuming the easy option is right. We check your sub-accounts and early repayment charges first, because those regularly change the answer. We work out the total cost across the deal rather than the headline interest rate.
We do not charge you a fee. We are paid by the lender, and paid whether you stay or move, so we have no reason to push you either way. We are family-run, with over 2,400 client reviews averaging 4.9 out of 5.
If your BM deal is coming to an end, tell us when and we will show you where you stand both ways.
