Hague is currently managing director of BM Solutions but will start his new role from May 6.
He will report to HBOS intermediary mortgages and Birmingham Midshires managing director Nigel Stockton.
A new managing director for BM Solutions will be appointed in due course. Stockton will directly oversee the BM Solutions business in the interim.
Stockton says: “I am delighted that Tim has accepted the savings and investments role. With the changing priorities facing the mortgage industry I believe he is ideally placed to ensure we continue to grow our savings business at Birmingham Midshires.”