Birmingham Midshires

Repayment methods: you can choose to pay off your mortgage by a capital repayment method (paying off the interest and the loan) or interest only or a combination. Generally you will be able to borrow 3.25 your gross income.

Birmingham Midshires offer the following types of mortgages:

• Fixed Rate
• Flexible Rate
• Tracker Rate

Fixed: BM have three 2 year fixed mortgages. They are all set at a fixed rate for an agreed period. After the fixed rate has finished your rate will revert to the Bank of England base rate plus a charge set by the society. An arrangement fee is applicable. An early repayment charge is applicable.

Flexible: the rate is a variable one set according to the Bank of England base rate plus a charge for the whole mortgage term. The main feature of a flexible mortgage is that the repayments you make are flexible. You can make underpayments and take payment holidays as long as you have made previous overpayments.

An arrangement fee is applicable. There is no early repayment charge.

Tracker Rate: BM have a number of tracker mortgages. You can choose from 2 year, 2 year re-mortgage, Lifetime tracker, Lifetime tracker re-mortgage. The rate your mortgage is set at is linked to the Bank of England base rate. An arrangement fee is applicable. An early repayment charge may be applicable.

If you are interested in a mortgage quotation including those offered by Birmingham Midshires please complete our quick enquiry form.

Buy to Let: this type of mortgage is for a person, usually an investor, who wants to buy a house or flat in order to rent it out.

BM has the following types of Buy to Let mortgages:

• Fixed
• Flexible
• Tracker

Flexible: your rate will be set according to the Bank of England base rate. You can make underpayments and take payment holidays as long as you have made previous overpayments.

An arrangement fee is applicable. An early repayment charge may be applicable.

Tracker: the rate your mortgage is set at is linked to the Bank of England base rate. After a set period it will revert to a higher charge. An arrangement fee is applicable. An early repayment charge is applicable.