Birmingham Midshires, now operating almost exclusively under the brand BM Solutions, is a highly specialist division of the Bank of Scotland (part of the massive Lloyds Banking Group). While the Birmingham Midshires name used to be seen on high-street savings accounts and insurance policies many years ago, today they act strictly as an intermediary-only, buy-to-let mortgage lender.
If you are searching for Birmingham Midshires home insurance, it is crucial to know that they do not sell home or landlord insurance. However, if you are taking out a buy-to-let mortgage with BM Solutions, it is a strict legal condition of your loan that you have adequate Landlord Buildings Insurance in place. Because they do not sell it, you must source this cover independently.
You can get independent advice and a personalised quotes comparison to find a policy that satisfies your BM Solutions mortgage requirements from one of our expert advisers below:
Get home insurance quotes and advice today!
You can use our expert advisers to compare home insurance deals from BM Solutions with products from other providers across the market.
They will round up personalised quotes from BM Solutions and alternative providers and offer bespoke advice on which one to choose.
To get started, fill in our quick online form below and one of our expert home insurance advisers with be in touch today!
What type of insurance do you need for a BM Solutions mortgage?
Because BM Solutions is a buy-to-let lender, standard, everyday home insurance will not be sufficient to protect your property and could easily be voided. You must find a specialist commercial policy that meets their requirements:
Landlord Buildings Insurance (Mandatory)
This covers the physical structure of your rental property. BM Solutions explicitly requires you to have this in place before your mortgage can complete.
-
Cover limits: You must ensure that the Sum Insured on the policy accurately reflects the full reinstatement (rebuild) value of the property, not just its market value
-
Scope: It must cover major perils, including fire, flood, storm damage, and subsidence
-
Leaseholds and Flats: If you are buying a leasehold flat or a property in a larger block, the freeholder usually arranges a block buildings insurance policy. Your broker or solicitor will need to verify this block policy meets BM Solutions' criteria
Landlord Contents Insurance (Optional but Recommended)
Even if you rent the property out unfurnished, you likely still own the carpets, curtains, and white goods inside it.
-
BM Solutions' Rules: While not a legal requirement for the mortgage, a standard buildings policy will not cover damage to your internal furnishings. Adding landlord contents cover is highly recommended
Additional Landlord Protections
When sourcing your own policy, you should consider the vital extras that protect your investment:
-
Property Owner's Liability: Protects you financially if a tenant or visitor is injured on your property and takes legal action against you
-
Loss of Rent Cover: Extremely important for BTL investors. If your property becomes uninhabitable following a fire or flood, this covers your lost rental income, ensuring you can still make your monthly BM Solutions mortgage payments
How your premiums are calculated
Because you will be buying from a third-party insurer (such as Aviva or AXA) to satisfy your BM Solutions mortgage, your premium will be calculated based on standard property risk factors:
-
Tenant Demographic: Professional, working families generally attract a lower premium than multi-tenant student houses (HMOs) or tenants on housing benefits
-
Rebuild Cost: The cost to completely rebuild your rental property from the ground up
-
Property Type: Non-standard constructions (like properties with large flat roofs) or homes in high-risk flood zones will cost more to insure
-
Unoccupancy Periods: If your rental property sits empty between tenants for more than 30 consecutive days, you will usually need to notify your insurer, which can temporarily increase your premium
Pros and cons
Because BM Solutions does not offer a specific insurance product, here are the pros and cons of sourcing your own independent landlord insurance to satisfy your mortgage:
Pros:
-
Total Market Freedom: Because you aren't tied to a specific bank brand, you can shop the entire UK market for the absolute cheapest premium
-
Tailored Cover: You can add specific landlord perks, such as Rent Guarantee insurance or Malicious Damage by Tenant cover, that directly suit your specific portfolio
-
Specialist Broker Support: Using an independent broker means you get expert help, ensuring your policy limits exactly match your lender's complex requirements
Cons:
-
Your Responsibility: You are solely responsible for making sure the policy starts exactly on the day your mortgage completes; otherwise, BM Solutions will delay releasing the funds
-
No Multi-Product Discounts: You will not get a loyalty discount by bundling your mortgage and your insurance together under the same brand
-
Under-Insurance Risks: If you accidentally calculate your rebuild cost incorrectly on an independent policy, a future claim payout could fall short, leaving you unable to repay the mortgage
Customer reviews
If you search for Birmingham Midshires or BM Solutions online, you will find reviews entirely related to their buy-to-let mortgage lending and intermediary portal, not insurance.
-
Trustpilot (BM Solutions): Like many BTL lenders that operate exclusively through brokers, their public reviews are mixed. However, within the mortgage industry, they are highly regarded for their slick application portals and excellent criteria for limited company mortgages
-
Choosing an Insurer: When our advisers find an independent insurance policy for your rental property, we will always recommend insurers that hold high Defaqto ratings (4 or 5 stars) and have strong, dedicated landlord claims handling teams
How to get a quote
The best way to apply for landlord or home insurance that meets your BM Solutions mortgage requirements is through an independent broker. Because BM Solutions lends exclusively through intermediaries, it makes sense to use an intermediary for your insurance, too. Consulting with an expert gives you an overview of the entire market, ensuring you get the right cover at the right price, while keeping your mortgage lender completely satisfied.
At Money Helpdesk, our property insurance experts know exactly what specialist BTL mortgage lenders look for in a buildings policy. If you are looking to arrange cover for your mortgaged property, get in touch and we will present you with all of your options.