BM Solutions, the buy‑to‑let lender arm of Lloyds Banking Group, has introduced a single combined product transfer (PT) and further advance (FAD) application process, designed to reduce administration for mortgage brokers and give landlords greater clarity when refinancing and borrowing more.
From Friday 24 April, mortgage brokers can submit one combined application when supporting an existing BM Solutions landlord who wants to move to a new deal and take additional borrowing at the same time. Previously, brokers were required to submit two separate applications.
What has changed
- Brokers can now submit one application covering both a product transfer and a further advance
- Both elements of the loan can be placed onto one product, subject to availability
- The change applies to buy‑to‑let landlords who are existing BM Solutions customers
Why this matters for brokers and landlords
The combined PT/FAD process removes the need to re‑key similar information across multiple applications, helping brokers save time and reduce duplication when supporting landlord refinancing.
For landlords, combining both borrowing needs into a single process allows the full mortgage balance to be aligned onto one product, typically a five‑year fixed rate. This can provide:
- Greater certainty over monthly payments
- Improved borrowing potential, as five‑year fixed products can benefit from lower stress rate assessments
- A simpler mortgage structure with fewer moving parts
Additional platform improvements for further advance applications
Alongside the combined application journey, BM Solutions has introduced a number of enhancements to its further advance submission portal. These improvements apply to both combined PT/FAD applications and standalone further advances.
New features include:
- Save‑and‑resume functionality, allowing brokers to return to applications at any time
- The ability to generate mortgage illustrations without completing a decision in principle or full application
- Greater flexibility to amend term lengths and repayment types across sub‑accounts
- A soft‑footprint decision in principle, enabling brokers to check eligibility before full submission
- The option to refine application details prior to final submission
- Immediate access to next steps and document upload, supporting faster case progression
Scope and exclusions
Applications that require a solicitor—such as cases involving an existing second charge on the property—are excluded from the new combined application process and will continue to follow the existing route.
Industry alignment
The update reflects wider market trends, as lenders place greater emphasis on supporting existing customers and improving intermediary workflows. While a small number of lenders have introduced similar functionality, combined product transfer and further advance journeys remain far from standard across the buy‑to‑let sector.
BM Solutions’ latest changes position it among a limited group of lenders actively reducing friction for brokers and landlords at the point of refinancing and additional borrowing.
Leigh Church, Head of BM Solutions, said: “We’re always looking at ways we can support both brokers and our landlord customers. 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.”
