Product Transfers
You will need a 10 character user ID to log in to BM Solutions Online. To submit a product transfer, please log in.
If you do not have a 10 character user ID, please follow our registration guidance.
How can I cancel a product transfer?
When can I apply?
You will be unable to apply for a Product Transfer and a Further Advance application at the same time. A product transfer application can't be started until a further advance application has completed and funds have been released. A further advance application can't be started until a product transfer application has been submitted and the new product has taken effect/started. If a Product Transfer application is submitted and subsequently cancelled you will need to wait until the 1st of the following month before applying for a Further Advance application.
We do not carry out credit scoring or underwriting on a product transfer application.
From 1 September 2024, when your client is within the last 4 months of an existing product, you can choose to select a new product and forward date the new product to start after the current product has ended. During the month of September 2024 sub accounts with a product expiry of 31 January 2025 will be able to key a Product Transfer to start on 1 February 2025.
Before applying
To view the products available for a specific customer log into BM Solutions Online and use Mortgage Enquiry to view the customer's mortgage. The Product Finder tab will show the products available for a customer.
Applications can be submitted on BM Solutions Online up to the last day of the month to take effect on the 1st of the following month. Please note you are unable to key applications on a Sunday.
Customers can make an overpayment prior to submission of a Product Transfer by bank transfer or over the phone. A Product Transfer application can then be applied for once the overpayment has been made, to start on the first of the following month.
You are unable to apply for a Product Transfer and a Further Advance application at the same time. A Product Transfer application can't be started until a further advance application has completed and funds have been released.
A further advance application can't be started until a Product Transfer application has been submitted and the new product has taken effect/started. If a Product Transfer application is submitted and subsequently cancelled, you will need to wait until the 1st of the following month before applying for a Further Advance application.
Valuations
You can find out the current valuation of the property in the Summary of Accounts screen at the start of the Product Transfer application.
If the applicant(s) would like to pay for a revaluation of the property you will need to complete a Product Transfer Revaluation Authority form. The revaluation will need to be carried out prior to you submitting a Product Transfer application.
Our current revaluation fees can be found here.
Submitting an application
If you have an on screen message whilst keying an application which requires you to update the customers account prior to submission of the Product Transfer application. For support with making changes to a customers account, please see our Existing Customers section.
Creating the Product Transfer
1. Log in to BM Solutions Online and select either Create Product Transfer or Mortgage Enquiry from the Home screen.
2. Account and current valuation details will show on screen and will need to be viewed before proceeding.
3. You will need to click Next and then Create Product Transfer to run the eligibility checks for the application.
4. If the account is eligible to transfer, you will be directed to complete the application.
Completing the Product Transfer Application
1. Review your Broker details on the first screen of the application.
2. The customer’s personal details pre-populated into the application, these will be read-only.
3. It is important that, if any of these details are incorrect you will need to cancel the application, and the customer will need to call our Servicing team on 0345 300 2627 to update their details before you can proceed.
4. After selecting the sub-accounts you wish to transfer, you have the option to make changes to the repayment type and/or term if required.
5. Next stage you will need to pick a product. If the product selected includes a fee you will have the option to add this to the loan or pay the fee upfront and you will be prompted to enter the customer’s card details for the payment on submission.
6. Once a product has been chosen and a new product effective date selected, a quote and mortgage illustration can be generated and shared with your customer(s).
7. Ensure you fully submit the application. You can view any available documents in the Product Transfers tab of the Application home screen.
Helpful Tips
If you do not complete the product transfer after starting the application, you will not be able to save and resume the application. A new application will need to be keyed. If you start an application and do not complete it, you will need to cancel it before the system will allow you to start a new application for the same customer(s) on the same day.
Post submission
The status of the application on the Mortgage Applications home screen will show as Submitted, Ready to Complete, or Completed. If the application shows as 'In Progress' then it has not been fully submitted and will need to be cancelled and rekeyed. Any applications not fully submitted will be cancelled automatically two nights after the application was started.
Offer and Illustration documents are available to view prior to full submission. You will receive an email once the Product Transfer completes; this is the day after submission if you have selected for the new product to start on the 1st of the following month or one month before where you have selected for the product to start when the current product ends.
If completion of the Product Transfer is due within 5 days of the customers' next payment date the direct debit will already have been requested. The existing payment will have been taken and the new payment will take effect from the following month. If this results in an underpayment, the customer will need to make an additional payment for the difference. If this results in an overpayment, the amount will be deducted from the mortgage balance, or the customer can call the Servicing team to request a refund.
Cancellation
If your client no longer wishes to proceed with a product transfer this can be cancelled from the date of application until up to 28 days from the date on their product transfer completion letter. 'Completion' of a product transfer will take place in the month before the new rate takes effect.
When a PT has been future dated completion will be early in the month before effect, and if keying a PT to start from the following month completion will take place shortly after the offer has been produced.
If you wish to change the new product selected on a product transfer offer, you must first cancel the existing PT application and then key a new application.
Pre-completion
On your My Applications page find the required PT tile and click the ‘Cancel' button. You can then key a new PT application as normal. If the ‘Cancel' button does not show this means the PT has already completed and a ‘Completed' status will show on the My Applications page.
Post-completion
A PT can only be cancelled within 28 days of the date of the customer's completion letter. To cancel please complete our cancellation form.
We will email you to confirm when the cancellation has been completed. Any new PT application cannot be keyed until you receive this confirmation.
Cancel a completed product transfer