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.
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
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.
Your income may have changed, reduced or you may currently be unemployed. We can still help you switch.
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 an option if you want to make changes to your mortgage. Our adviser firms will confirm with you the best options for you.
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
There are NO adviser or Brokerage fees for Remortgages and Product Switches with Switch Rates.
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.
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.
There is no conveyancing or 'legals' during the Birmingham Midshires mortgage switching process. No fees are payable.
Switching a mortgage product with Birmingham Midshires usually takes a couple of days.
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.
You can still switch if you have an interest only mortgage.