Lenders send payments through BACS, which can take up to five business days to settle in PMS. After that, PMS will make the payment to the brokers once the funds have been settled in their account. If you deposit into an existing account, the money will be transferred the same business day that PMS receives the funds from your school. Generally, it takes one to two business days for the receiving bank to credit the money to your account.
Doing this process now can ensure that you will receive the money your school owes you in a timely manner. All updates for cases where the reference begins with “60” on BM Solutions Online will be provided by email throughout the application process. BM Solutions Online has an integrated document upload function, improved case tracking and automated email updates. BM Solutions Online is available from 8 a.m.
to 8 p.m., Monday through Friday, and from 8 a.m. to 6 p.m., on Saturdays, and is closed to the public on Sundays. It contains a link to the BM Solutions mortgage portal, which should be used to present all cases of portfolio owners following the instructions. We have launched a new BM Solutions Online system for all new purchase-to-rent and rent-to-buy mortgage applications.
BM Solutions is dedicated to supporting intermediaries with competitive products, forward-thinking technology and award-winning service. Once the specific reimbursement information and funds are received, they will be processed and disbursed according to your selection.
