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Birmingham Midshires current

SVR  - 5.09%

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How to lower your Birmingham Midshires Mortgage Payments - the complete guide.

If your Birmingham Midshires mortgage is coming to the end of its fixed rate term or initial deal then you will be paying Birmingham Midshires SVR - you need to make an important decision on how you will keep your mortgage payments low.

If you are not looking to make any changes to your mortgage and want to simply obtain a better rate from Birmingham Midshires, you have come to the right place - we can help you switch your mortgage to a better rate with Birmingham Midshires.

 

 

Our switch guarantee for Birmingham Midshires ensures our advisers will never charge for switching your mortgage - its a FREE service.

Switching or Transferring your mortgage is NOT remortgaging (which involves moving to a different lender), with Switching you are staying with your existing lender - Birmingham Midshires, however switching over to a new Birmingham Midshires product.

"if you would like to make changes to your mortgage, read our excellent guide on remortgaging"

The difference between Birmingham Midshires SVR and a 'new switch deal' product rate is significant, the consequence of not switching could mean an increase of hundreds of pounds on your monthly mortgage payments.

 

What is an SVR ?

SVR stands for 'Standard Variable Rate'. After an initial deals ends (usually 2,3 or 5 years) you will almost always be paying a lenders higher SVR.

 

All our advisers are Birmingham Midshires mortgage advisers and can deal with Birmingham Midshires existing customers.

 

Send a free switch request enquiry

 

How much can I save ?

If you are on Birmingham Midshires SVR (5.09%) and switched to a Birmingham Midshires switcher rate of 2.79% fixed for 2 years. You monthly savings would be £383 every month - thats an annual saving of £4596 !

(example based on a loan of £200,000 interest only mortgage over a 25 yr term)

Bad Credit ?

Reduced Income ?

Older applicant ?

We can still help you switch and get a better rate...

Here are the latest Switcher Rates from Birmingham Midshires

Rate TypeDeal TermInterest RateLTVEst SavingsProduct FeesDetailsNext Steps
Fixed5 Years3.29%60%300.000

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years3.24%60%308.330

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed5 Years3.09%60%333.33£999

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years2.79%60%383.33£999

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Tracker3 Years3.74%75%225.000

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed5 Years3.54%75%258.330

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years3.39%75%283.330

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years3.29%75%300.000

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed5 Years3.54%75%258.330

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed5 Years3.44%75%275.00£499

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years3.39%75%283.330

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed5 Years3.24%75%308.33£999

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years3.19%75%316.67£499

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years2.84%75%375.00£999

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Tracker3 Years3.74%75%225.000

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years3.29%75%300.000

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed5 Years3.29%60%300.000

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed5 Years3.24%60%308.33£499

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years3.24%60%308.330

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed5 Years3.09%60%333.33£999

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years3.09%60%333.33£499

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry
Fixed2 Years2.79%60%383.33£999

No valuation costs

No conveyancing costs

No switch fee

(all estimated saving calculations are based on a 200k interest only loan over a 25 year term)

Send a switch request enquiry

Birmingham Midshires Product Switch FAQ's

I have poor credit - can I still switch ?

We can still help you switch your mortgage product with Birmingham Midshires if your credit circumstances have changed. This could include things like,

  • Missed credit card payments
  • Overdrafts and banking arrears
  • Lated and missed personal loan payments
  • County Court Judgements (CCJ's)
  • Utility providers arrears
  • Mobile phone provider arrears
  • Low credit scores
  • Adverse credit file information

 

Can I switch if I have changed Job ?

If you have changed jobs or roles which has meant a change in salary or a general change in employement such as change in industry - we can still help you switch. You may have also decided to go self employed and may not have a full years accounts.

My income has changed, can I switch ?

Your income may have changed, reduced or you may currently be unemployed. We can still help you switch.

Can I go direct to BM ?

Some banks do offer product transfer or switch rates direct to customers. Birmingham Midshires unfortunately do not and require a mortgage broker to switch their products.

Remortgaging is a better option right ?

Remortgaging is an option if you want to make changes to your mortgage. Our adviser firms will confirm with you the best options for you.

What is the switching process ?

Please make an enquiry using our contact us form.

A FCA regulated adviser will call you to talk you through the process and complete a short form.

Once the form is completed the adviser will return some suitable products

They will then Switch your product directly with Birmingham Midshires

Do you charge any broker/adviser fees

There are NO adviser or Brokerage fees for Remortgages and Product Switches with Switch Rates.

Are there any valuation fees

There are no Valuation fees involved with Switching your mortgage with Birmingham Midshires.

  • If you would like to contest a banks 'automated' valuation during the switching process a revaluation fee may be applicable.
Are there any product/arrangement fees

Please look at the product fees section of the products available from Birmingham Midshires. They offer a range of products that do NOT have any arrangement or products fees.

Are there any legal/conveyancing fees

There is no conveyancing or 'legals' during the Birmingham Midshires mortgage switching process. No fees are payable.

How long does switching take ?

Switching a mortgage product with Birmingham Midshires usually takes a couple of days.

Can I switch before my current product expires ?

You can switch up to 90 days before your current Birmingham Midshires product expires. If you decide to switch during this time, Birmingham Midshires will waive any product penalties due.

I have an interest only mortgage

You can still switch if you have an interest only mortgage.


Request a free adviser callback