Are you a current holder of a Birmingham Midshires mortgage and looking to apply for a new one? If so, you should know that additional loan applications are not allowed within 6 months after the original mortgage ends. However, Trinity Financial has access to a variety of lenders that offer purchase-to-rent mortgages with no minimum income to homeowners who want to move from the Birmingham Midshires. Many of these banks and mortgage companies offer the cheapest purchase-to-rent mortgages on the market and offer a fast and affordable rehypothecation service. Unfortunately, Birmingham Midshires no longer offers mortgage products directly to customers. This includes servicing current customers through product transfers, additional advances and conventional mortgages.
Changing or transferring your mortgage does NOT involve remortgaging (which means moving to another lender). With the change, you stay with your current lender, Birmingham Midshires, but you switch to a new Birmingham Midshires product. The good news is it is possible to age 80 years and without any type of additional subscription. The process is known as product transfer and is generally reserved for BM Solutions customers who want to exchange a mortgage product that is nearing the end of a promotional rate, but it can also be used to extend the term of the mortgage. Birmingham Midshires will consider that remortgages can be accepted on an inherited property in the last six months, but only once the estate has been granted.
BM Solutions is the home lending division of Birmingham Midshires Mortgages. BM Solutions' new purchase-to-rent mortgages are only available through independent financial advisors and specialized mortgage advisors. Trinity Financial mortgage brokers have been negotiating with Birmingham Midshires (now BM Solutions) for more than ten years. If the customer has less than two years left, they will need to call the Birmingham Midshires end-of-term team on 0800 056 2980 and carry out a new purchase-to-rent evaluation to determine if they are eligible to extend their term. Birmingham Midshires buys so that current customers need to arrange a product transfer through specialized brokers like Trinity Financial. We can confirm if they are eligible to receive any of the market's leading purchase and rental rates, or if the best option is to stay with Birmingham Midshires.
We can help you exchange your mortgage for a new product exchange rate or product transfer rate, which often eliminates the need for rehypothecation options, which are often expensive and lengthy. Incentives are available for existing mortgage customers who wish to remortgage BM Solutions Mortgages. Product transfers can be accepted when there are delays in customer accounts and in any account linked to Birmingham Midshires, provided that the customer does not exceed the following levels and all arrears have been settled at the time of request. Change your mortgage rate or transfer your mortgage rate: no broker fees, just a fast mortgage transfer service from lenders like Halifax, Barclays, Birmingham Midshires, Virgin Money and Metro Bank, up 26%. As a current buy-for-rent customer in Birmingham Midshires, you'll need help when you finalize your current buy-to-rent rate to avoid going over to the BM Solutions reversal rate of 5.34%.Birmingham Midshires made the decision to stop dealing directly with customers when they wanted to re-mortgage or change the rate years ago.
However, we can still help you exchange your mortgage product with Birmingham Midshires if your credit circumstances have changed. Birmingham midwives are not interested in loans for beds, commercial properties, live-work units, mobile homes or timeshare.
