Ceramic samples of [BiFeO3]y(BiMg0.5Ti0.5O3)1−y]0.55[PbTiO3]0.45 designated as (BF–BMT–PT) were prepared by high temperature solid-state reaction method. X-ray diffraction analysis of the powder samples suggests the formation of a single-phase material with transformation from rhombohedral to tetragonal crystal structure with increase in BF content. Polarization vs electric field (P–E) hysteresis studies show maximum remanent polarization (Pra0;a0;1.4a0;μC/cm2) for composition ya0;=a0;0.08. Dielectric studies of the compounds as a function of temperature at frequency 100a0;kHz show that the compounds undergo a diffuse phase transition with a transition temperature increasing with increasing y. The diffusivity parameter of the phase transition for these compounds yielded values between 1.6 and 1.8 indicating significant variation of degree of disordering in the system.