There are many reasons why clients want to do a rate switch/product transfer instead of doing a remortgage. Many clients just do not want to go through the hassle of the legal work involved with a remortgage. Others have built up a long-term relationship with their lender and are happy so do not want to move

Other clients’ circumstances have changed so that getting a remortgage and going to another lender is not feasible. They might have just gone self-employed and do not have adequate income proof. They may have a reduction in income due to going part-time or starting a family.

Product Transfers and Rate Switches do not usually involve credit searches so if a client’s credit profile would prevent a remortgage then in most cases provided their mortgage payments are up to date their existing lender will allow a rate switch.

Not all lenders allow rate switches and product transfers. However, the number of lenders allowing this has grown significantly over the last few years. As a whole market broker, we can compare what is available via your existing lender and what deals are also available from the whole market for you.



About The Author

mortgage broker damian youell

See some of Damian’s client reviews below

Damian is an experienced mortgage broker, founder of Ltd and company director. With over a decade working as a mortgage broker he has a strong understanding of hard to place mortgage cases. With hundreds of 5 star client reviews. hundreds of repeat clients his work speaks for himself.

He started as a one man band with the philosophy of putting clients needs ahead of his own. This ethos of offering excellent customer service has helped the business grow over the years. He gets satisfaction on getting cases pushed through to offer stage where other mortgage broker and companies have failed.

Throughout his time as an adviser he has carved out a niche area of advice helping clients with their business protection requirements too. Having helped hundreds of client with Relevant Life Policies, Shareholder Protection Insurance, Keyperson Policies and other important protection requirements of large to small businesses.

At home he is a family man and likes to spend his time with his four children and wife Lisa. He enjoys going on holidays spending time with friends and going for walks.

Why move your mortgage from Birmingham Midshires?

A lot of the time, the standard variable rate (SVR) is much higher than what can be offered by your current mortgage lender. With Birmingham Midshires, our company can switch your rate to prevent it from going onto the SVR and could therefore save you money on your monthly payment. If, however, the product is not competitive against the whole mortgage market, we will then explore remortgaging to a different provider from the mortgage market.

Birmingham Midshires, also known as BM Solutions and are a division of the Bank of Scotland plc. They don’t offer Mortgage products direct to their customers.

The next steps to process the product transfer with Birmingham Midshires is a simple process and will just require you to follow the following steps;

  • Fill in the online enquiry form
  • We will then contact you to discuss the options available to you.
  • Confirm that you are happy to proceed with the information we provide you and we will then accept the new rate for your mortgage.


Rate switch reviews below for existing clients



How To Find a BM Solutions Mortgage Broker? 

Many people find it helpful to involve a mortgage broker in product transfer and rate switches applications. But finding the right broker is always challenging for people in the UK because of the many options. 

You’re not alone when it comes to frustration, but the good news is there are brokers who can give you access to their rates as well as several other lenders’ rates so you can get the overview you need to choose the best one for you. 

Whether you are interested in a remortgage, transfer a mortgage, buy to let or let to buy a mortgage, we can connect you with the most suitable mortgage broker as per your requirements.  Feel free to contact us.


Damian Youell

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How We Work

1: We contact you and take down your details, income outgoings, name, address etc.

2: We will research the whole market and email you a detailed quote as well as a list of documents to proceed.

3: You upload the documents and information needed via our channel our online portal.

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