BM Solutions Mortgage Rates
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Why Choose BM Solutions?
Choosing the right mortgage provider is a crucial decision for property investors. BM Solutions stands out as a leader in the buy-to-let mortgage sector. Their expertise in this niche area ensures that investors receive products tailored to their unique needs. However, it’s worth noting that customers cannot directly approach BM Solutions. To access their products, one must go through a mortgage broker, ensuring that the solutions provided suit the individual’s requirements.
Benefits of Using a Fee-Free Mortgage Broker for BM Solutions
BM Solutions Mortgages exclusively offers buy-to-let mortgages through mortgage brokers, not directly to customers. By using a fee-free mortgage broker, you streamline the process and access the best of BM Solutions mortgages without extra charges, enhancing your mortgage experience.
Independent mortgage advice
Every property investor has unique needs, financial situations, and goals. Fee-free mortgage brokers offer tailored solutions that align with an individual’s property investment strategy. By understanding your requirements, they can give you independent mortgage advice and get you the best BM Solutions mortgage product.
Personalised Service
Mortgage brokers provide a service that is tailored to your unique needs. They understand that every property investor has different financial situations and goals. By understanding these nuances, they can match you with the best BM Solutions mortgage product that aligns with your property investment strategy and will deal directly with BM Solutions mortgages to get you the very best rate and deal.
Access to Exclusive Rates & Mortgage Deals
One of the significant advantages of using a fee-free mortgage broker is access to exclusive rates. These rates, often not available to the general public, can lead to substantial savings over the mortgage term. Brokers deeply understand the industry and can negotiate rates that might be more favourable than those found directly.
Fee-Free Service
The idea of getting expert mortgage advice without any charges is a no brainer. As a fee-free mortgage broker, we provide comprehensive advice without any hidden charges. Our primary goal is to ensure you get the best mortgage product without any financial burden from our end.
Case Study: First-Time Landlord Couple's Mortgage Journey
BM Solutions Mortgage Rates
BM Solutions specialises in providing competitive fixed-rate mortgages tailored for buy-to-let investors. Their rates ensure stability in your monthly repayments, giving you peace of mind amidst market changes. Read below for a breakdown of what products are available or visit BM Solutions Product Rates PDF.
Fixed-Rate Mortgages
Fixed-rate mortgages offer the security of a constant interest rate for a set period, typically ranging from two to five years. With a BM Solutions mortgage, you can lock in a competitive rate, ensuring your monthly repayments remain consistent, regardless of market fluctuations.
Buy To Let Mortgage Products
BM Solutions provides buy to let mortgages with 2 and 5 year fixed rates with both arrangement product fees and no arrangement product fees, providing lower rates, cashback incentives, and free valuations.
ERC structure on below products:
- 2 year - 2% to 31/12/2024 and 1% to 31/12/2025
- 5 year - 5% to 31/12/2024, 4% to 31/12/2025, 3% to 31/12/2026, 2% to 31/12/2027 and 1% to 31/12/2028
10% overpayment allowed each year on all mortgage products
Fixed - House Purchase (£0 Fee)
- £0 product fee
- 2 and 5 year fixed rates available
- 65% - 75% max loan to value
- between £25,001 to £1,000,000
Fixed - House Purchase (£3999 Fee)
- £3999 product fee
- 2 and 5 year fixed rates
- 65% - 75% max loan to value
Fixed - Remortgage
- £0 product fee
- 2 and 5 year fixed rates available
- 65% - 75% max loan to value
- between £25,001 to £1,000,000
Fixed - Remortgage (£1499 fee)
- £1499 product fee
- 2 and 5 year fixed rates available
- 65% - 75% max loan to value
- between £25,001 to £1,000,000
- Incentives of £300 Cashback & Free Level 1 valuation fee or Free Level 1 valuation fee & Free Conveyancing
Fixed - Remortgage (£3999 fee)
- £3999 product fee
- 2 and 5 year fixed rates available
- 65% - 75% max loan to value
- between £25,001 to £1,000,000
- Incentives of £300 Cashback & Free Level 1 valuation fee or Free Level 1 valuation fee & Free Conveyancing
Buy to Let - Green Home Mortgage Products
BM Solutions mortgages offer Buy-to-Let green mortgages with reduced rates to those purchasing properties with an energy efficiency rating of A, B, or C or an Energy Performance Certificate Register rating of at least 69 or a valid Predicted Energy Performance Certificate for new builds. As proof, an Energy Performance Rating Register registration should be used or the EPC itself (for properties) or Predicted EPC should be produced prior to applying for any such loans.
ERC structure on below products:
2 year - 2% to 31/12/2024 and 1% to 31/12/2025
5 year - 5% to 31/12/2024, 4% to 31/12/2025, 3% to 31/12/2026, 2% to 31/12/2027 and 1% to 31/12/2028
10% overpayment allowed each year on all products without early penalty.
Fixed - House Purchase £0 Fee
£0 product fee
2 and 5-year fixed rates available
Max loan to value: 50% - 75%
between £25,001 to £2,000,000
Fixed - House Purchase £3999 Fee
£3999 product fee
2 and 5-year fixed rates
Max loan to value: 50% - 75%
between £25,001 to £1,000,000
Fixed - Remortgage
£0 product fee
2 and 5-year fixed rates available
50% - 75% max loan to value
between £25,001 to £2,000,000
Fixed - Remortgage - £1499 fee
£1499 product fee
2 and 5-year fixed rates available
Max loan to value: 65% - 75%
between £25,001 to £1,000,000
Incentives of £300 Cashback & Free Level 1 valuation fee or Free Level 1 valuation fee & Free Conveyancing
Fixed - Remortgage - £3999 fee
£3999 product fee
2 and 5-year fixed rates available
Max loan to value: 50% - 75%
between £25,001 to £1,000,000
Incentives of £300 Cashback & Free Level 1 valuation fee or Free Level 1 valuation fee & Free Conveyancing
Let to Buy Mortgage Products
ERC structure on all products:
2 year - 2% to 31/12/2024 and 1% to 31/12/2025
5 year - 5% to 31/12/2024, 4% to 31/12/2025, 3% to 31/12/2026, 2% to 31/12/2027 and 1% to 31/12/2028
Not available for porting
10% overpayment allowed each year on all products
Fixed - Remortgage
£0 product fee
2 and 5-year fixed rates available
Max loan to value: 65% - 75%
between £25,001 to £1,000,000
Fixed - Remortgage - £3999 fee
£3999 product fee
2 and 5-year fixed rates available
Max loan to value: 65% - 75%
between £25,001 to £1,000,000
Incentives of £300 Cashback & Free Level 1 valuation fee
Let to Buy Mortgage Products - Green Home
Lower rates on Let to Buy products may be available to purchasers of properties with an Energy Efficiency Band A, B, or C rating of at least 70 or an Energy Performance Certificate Register listing that verifies this information or even a Predicted Energy Performance Certificate in cases of new builds. In such instances, evidence of compliance must be shown prior to applying.
ERC structure on below products:
2 year - 2% to 31/12/2024 and 1% to 31/12/2025
5 year - 5% to 31/12/2024, 4% to 31/12/2025, 3% to 31/12/2026, 2% to 31/12/2027 and 1% to 31/12/2028
Not available for porting
10% overpayment allowed each year on all products
Fixed - Remortgage
£0 product fee
2 and 5-year fixed rates available
Max loan to value: 50% - 75%
between £25,001 to £2,000,000
Incentives of £300 Cashback & Free Level 1 valuation fee
Fixed - Remortgage - £3999 fee
£3999 product fee
2 and 5-year fixed rates available
Max loan to value: 50% - 75%
between £25,001 to £1,000,000
Incentives of £300 Cashback & Free Level 1 valuation fee
Product Transfers and Further Advances
BM Solutions Product Transfer and Further Advance products are now bespoke for all BM Solutions clients. To get a personalised Product Transfer or further advance rate, contact our fee-free mortgage advisors who will use a mortgage calculator to work out if it is beneficial for you to pay arrangement fees to get a lower interest rate. It’s worth noting that a BM Solutions Mortgage product transfer often requires minimal underwriting checks.Monthly Mortgage Payments
Understanding your mortgage options as well as your mortgage repayments is vital. With BM Solutions, you’ll benefit from clear monthly repayments. This can be done easily with the help of a mortgage calculator. To get a precise idea of your potential repayments, use our mortgage repayment calculator. Our fee-free advisors are always available for further guidance.Get Your Custom Mortgage Interest Rate
Why settle for one lender’s mortgage interest rates when our advanced tool can tailor one specifically to you? We search the mortgage market of over 90 mortgage lenders – from high street banks and building societies to online mortgage platforms – until we find the remortgage products that perfectly match up with you and your situation.
Advantages of Our Tool:
- Comprehensive Market Scan with Customised Rate Recommendations.
- Access to exclusive mortgage deals backed by experts’ guidance at no charge
How to Apply for a BM Solutions Mortgage
Step-by-step guide
- Initial Consultation: Start by consulting with a mortgage broker to understand your requirements and financial situation.
- Product Selection: Based on the consultation, the broker will recommend the best mortgage product for you whether that be with BM Solutions or another lender.
- Documentation: Gather all necessary documents, including proof of income, property details, and identification.
- Application Submission: The broker will submit your mortgage application to BM Solutions on your behalf.
- Approval: Once BM Solutions reviews your application and documents, they will provide a mortgage offer.
Documents required
- Proof of income (payslips or tax returns)
- Proof of identity (passport or driving license)
- Property valuation report
- Details of the property to be mortgaged
Timeline and what to expect
The entire mortgage application process with BM Solutions typically takes 3-4 weeks. However, this can vary based on individual circumstances and the complexity of the application.
Frequently Asked Questions (FAQs)
Is BM Solutions part of Halifax?
Yes, BM Solutions is a brand under Birmingham Midshires, which is a division of Bank of Scotland plc. Bank of Scotland plc is a subsidiary of Lloyds Banking Group, and Halifax is also a major brand within Lloyds Banking Group. While BM Solutions and Halifax operate under separate brands, they are both part of the larger Lloyds Banking Group family. Notably, BM Solutions specializes in buy-to-let mortgages, catering specifically to landlords and property investors.
Do Birmingham Midshires still do mortgages?
Yes, Birmingham Midshires still offers mortgages, but they primarily focus on savings accounts now. For mortgages, they operate under the BM Solutions brand, which specialises in buy-to-let mortgages and let-to-buy mortgages. If you're interested in a mortgage, approaching BM Solutions or a mortgage broker affiliated with them would be the best course of action for your personal circumstances.
What is the stress rate for BM solutions?
The stress rate for BM Solutions is a predetermined interest rate used to assess if a borrower can manage potential future rate increases on their mortgage. A rental stress tests ensures that borrowers can still afford repayments if interest rates rise. The exact rate can vary, so it's essential to check with BM Solutions or a mortgage broker for the current stress rate.
What is the standard rate in Birmingham Midshires?
Birmingham Midshires, part of the Lloyds Banking Group, has a Standard Variable Rate (SVR) that can fluctuate based on various economic factors. The SVR is the default rate once any fixed or discounted deal ends. For the current SVR, it's recommended to consult Birmingham Midshires directly or visit their official website.
What are the current mortgage rates?
Mortgage rates depend on several variables, such as type of loan, loan-to-value ratio, and overall economic conditions. To stay informed on BM Solutions or Birmingham Midshires mortgage rates and offers, visit their official websites or get in touch with a mortgage broker who can give up-to-date rates and information.
Fee Free Mortgage Advisors
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- We submit the mortgage application for you
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- Access to 90+ UK mortgage lenders
- Written by Grant Humphries
- October 24, 2023
Grant Humphries (CeMAP)
Grant Humphries (CeMAP) is a proficient Mortgage & Protection Adviser at YesCanDo Money. With a career spanning since 2001, Grant has honed his expertise in understanding mortgage lenders' criteria, complex financial situations, and the nuances of the mortgage market. His deep knowledge enables him to provide tailored solutions, especially for professionals and those with unique financial profiles. At YesCanDo, Grant's commitment to excellence is evident. He takes pride in guiding clients through their mortgage journey, ensuring they feel confident and informed at every step. From first-time buyers to seasoned investors, Grant's analytical approach and dedication make him a trusted adviser in the financial landscape
