Nearly time for a product switch?
What's New
- LTV now up to 95%
- Max loans up to £5m
- Product fees can be added to the loan
- Stress rates reduced to 1.25% on 2 and 3-year fixed
What's New
- Rates down on all buy to let products
- Rates on limited editions for non-portfolio landlords now from 3.59% on 2-year fixed
- Rates from 4.14% on 2-year fixed non-HMO (single dwelling properties)
- New limited edition LTV ranges - 65% and 75% LTV for loans £125,000-£325,000
What's New
- Standard rates from 5.64%
- EPC C+ refurbishment rates from 5.44%
What's New
- Tier 1 and Tier 2 products combined into a single refurbishment range
- Lower rates for heavier refurb deals based on the current value of the property
- Rates from 0.65%pm
- No ERC and min 1 month interest
- No max loan amount
What's New
- Rates reduced by up to 0.45%
- 2-year fixed now from 4.74%
- 5-year fixed now from 5.54%
- Variety of product fee options £0, 1% and 3% available
- Products available for limited company, personal ownership and HMOs
Step 1: Contact us
Before we can start the process, we’ll need authority from your customer allowing you to act on their behalf. Until we receive their authority we’re unable to secure a rate for your customer.
The quickest way to do this is to ask your customer to call us and give their authority verbally over the phone. Simply ask them to call our Product Transfer Team on 0333 240 6180 and we’ll register their authority directly onto our system, meaning you can start talking with us straight away about your customer’s product transfer requirements.
Alternatively, you can ask them to complete our Product Transfer Letter of Authority. Once you have this, email it to us at [email protected] and we’ll then contact you within 5 working days to get the ball rolling.
Step 2: Initial assessment
We’ll run some initial checks on your customer’s account and let you know if a product transfer is available for them, such as making sure their account is up to date.
Step 3: Product selection
Just let us know which product your customer has selected. We’ll accept applications up to three months before the current product rate and early repayment charge period expires but completion of the transfer cannot take place during an early repayment charge period.
Step 4: Mortgage illustration
We’ll send you a mortgage illustration for the product selected for you to discuss with your customer.
Changes to your customer’s account, such as amending the term or repayment method, can be considered but would need to be completed either before or after the product transfer completes.
If your customer wants to make a lump sum overpayment, this can be completed in the 10 days before the transfer completes as long as we’ve received the acceptance of offer.
Step 5: Mortgage offer
If your customer is happy with the illustration we’ll then produce mortgage offer packs and send a copy to both you and your customer. To move the transfer on to completion we’ll need to receive their acceptance of offer.
Your customer can change their mind about a product transfer at any time before completion. If they’ve not yet returned the acceptance of offer, then simply give us a call and we’ll update our records. If the acceptance of offer has been sent to us they’re still able to cancel the product transfer up until the day the new product is due to take effect.
Step 6: Completion
You need to make sure there’s a clear calendar month between us receiving the signed acceptance of offer and the product transfer completing.
For all product transfer completions, we’ll pay a procuration fee of 0.25% if submitted direct or, if submitted via a club or network, we’ll pay them 0.30% for distribution.