"These improvements to our further lending application process make it simpler and less time-consuming for brokers and give landlords greater clarity and borrowing potential when refinancing and raising additional funds"
- Leigh Church - BM Solutions
BM Solutions, the buy-to-let mortgage arm of Lloyds Banking Group, has launched a combined product transfer and further advance application process, allowing brokers to handle both in a single submission rather than two separate ones.
The change applies to existing BM Solutions landlord customers who want to move to a new deal and take additional borrowing at the same time. Both elements can be placed onto one product, subject to availability, simplifying the mortgage structure and reducing the administrative burden on brokers.
For landlords, consolidating both borrowing needs into one application means the full mortgage balance can be aligned onto a single product, typically a five-year fixed rate. That structure can offer greater certainty over monthly payments, improved borrowing potential through lower stress rate assessments on five-year fixes, and a simpler overall mortgage arrangement.
Platform upgrades for further advance applications
Alongside the combined journey, BM Solutions has made several enhancements to its further advance submission portal, covering both combined PT/FAD cases and standalone further advances.
Brokers can now save and resume applications at any point, generate mortgage illustrations without completing a decision in principle or full application, and adjust term lengths and repayment types across sub-accounts.
A soft-footprint decision in principle allows eligibility to be checked before full submission, while immediate access to next steps and document upload supports faster case progression.
Applications requiring a solicitor, such as those involving an existing second charge on the property, are excluded from the combined process and will continue through the existing route.
"We're always looking at ways we can support both brokers and our landlord customers," said Leigh Church, head of BM Solutions. "These improvements to our further lending application process make it simpler and less time-consuming for brokers and give landlords greater clarity and borrowing potential when refinancing and raising additional funds."
