Remortgaging From BM Solutions

Why Landlords Remortgage From BM Solutions

There are several compelling reasons why buy-to-let borrowers choose to leave BM Solutions:

• High revert rate — BM Solutions' SVR sits in the region of 8.24% to 8.74%, significantly more expensive than the fixed rate deals available across the BTL market
• Competitive landscape — newer entrants to the BTL space such as Landbay and Fleet Mortgages frequently undercut established players on rate
• Portfolio growth — landlords who have expanded beyond BMS's lending parameters may find that specialist portfolio lenders offer more accommodating criteria
• Limited company shift — BM Solutions has historically focused on personal name BTL lending, and landlords moving to corporate ownership may find broader SPV product ranges elsewhere

BM Solutions provides a solid service, but loyalty does not always pay in the buy-to-let mortgage market. Regular reviews ensure your finance costs remain optimal.

BM Solutions BTL Rates and SVR

During their initial fixed rate period, BM Solutions products are typically priced competitively within the mainstream BTL space. The challenge arises when that period ends and borrowers revert to the standard variable rate.

BM Solutions' SVR generally sits between 8.24% and 8.74%, which for many landlords represents a doubling or near-doubling of their initial rate. On a £200,000 interest-only buy-to-let mortgage, a SVR of 8.49% results in monthly payments of approximately £1,415. Switching to a competitive five-year fix at 4.99% would bring that down to around £832 — delivering savings of £583 per month or nearly £7,000 per year.

Given that many landlords hold BTL mortgages on an interest-only basis, the rate directly determines your monthly outgoing. Every fraction of a percentage point saved translates directly into improved cash flow and net rental yield.

How to Remortgage Your Buy-to-Let From BM Solutions

The remortgage process for a BM Solutions buy-to-let follows established steps, with some considerations specific to landlord lending:

• Gather your property details — note your current balance, property value estimate, rental income and tenancy type for each property you wish to remortgage
• Check for early repayment charges — if you are still within your initial rate period, ERCs may make it uneconomical to switch immediately. Plan your remortgage to coincide with the end of your fixed term
• Engage a specialist BTL broker — the intermediary-only nature of most BTL lending means broker access is essential for comparing the full market
• Prepare your rental evidence — new lenders will require an ARLA valuation or recent tenancy agreement to confirm rental income meets their coverage requirements
• Complete through your solicitor — the legal work involves replacing BM Solutions' charge with the new lender's charge on the title

Many landlords choose to remortgage properties individually as each deal expires, spreading the process across the year rather than managing everything at once.

Portfolio and Property Considerations

When remortgaging away from BM Solutions, the composition of your property portfolio plays an important role in determining your best options:

Single property landlords — with just one BTL property, you have the widest choice of lenders and will benefit from straightforward underwriting without portfolio-level assessments.

Multiple properties with different lenders — spreading your portfolio across several lenders is common practice and can actually be beneficial, as it reduces concentration risk and allows you to take advantage of each lender's strengths.

Rental coverage stress tests — different lenders apply different stress rates when assessing whether your rental income is sufficient. Some test at 5.5% while others use higher rates, which affects the maximum loan you can obtain. A broker can identify which lenders' stress tests work best for your properties.

Property condition and type — ex-local authority flats, properties above commercial premises and short-lease properties may be accepted by BM Solutions but restricted with other lenders. Ensure your new lender's criteria accommodate your property type before applying.

Why a Broker Helps With Buy-to-Let Remortgaging

For landlords leaving BM Solutions, a mortgage broker provides value that extends well beyond simple product selection.

The BTL market features dozens of lenders with varying criteria around rental coverage ratios, maximum portfolio sizes, acceptable property types and borrower age limits. A broker who specialises in buy-to-let understands these differences and can match your specific circumstances to the right lender first time, avoiding wasted applications and unnecessary credit searches.

Brokers also add strategic value for portfolio landlords by advising on which properties to remortgage first, whether consolidating with a single lender or diversifying across several makes more sense, and how to structure your borrowing to maximise tax efficiency under current HMRC rules. This holistic view of your portfolio goes far beyond what any single lender's product range can address.