Product transfer

You can apply for a product transfer if:

• Your customer’s account number starts 80 and is ten digits
• Your customer is applying for a product from the same brand they initially applied through
• The mortgage amount, term and repayment method are staying the same
• You're happy with the estimated loan to value and don’t require a revaluation
• The mortgage is outside any Early Repayment Charge (ERC) period, or has four months or less remaining on the ERC period
• Your customer is residing in the property, unless in the armed forces
• Your customer is not in arrears or in a concessionary period on their mortgage
• The remaining mortgage term exceeds the chosen product by at least six months.

Things you need to know:

Fees:  Product transfer fees must be paid before completion or added to the loan. We’re unable to add fees to any residential accounts taken out before 31 October 2004.

Loan to Value (LTV): We use a house price index to verify LTV. Your customer may not qualify for the product chosen if we find that the LTV is different. Revaluations are available on request; these are subject to a fee. Please call us for further information.

Offer: The offer is valid for 30 days. Your customer will need to sign and return the offer within this time to secure the rate.

Effective from: If we receive your customer's signed acceptance, together with all other requirements if requested by us:

• Before the 19^th of the month we will apply the new rate for the 1^st of the following month (or the month after their current product expires if this is later).  
• On or after the 19th of the month we won’t be able to guarantee the new rate will start from the 1^st of the following month. We will make every effort to do so but it may not take effect until a month later, for example if we receive the acceptance on 28^th July it may not take effect until 1^st September. 
• We will write to your customer to confirm their new monthly payment and the date from which the new rate is effective.

You can apply for a product transfer if:

• Your customer’s account number starts 80 and is ten digits
• Your customer is applying for a product from the same brand they initially applied through
• The mortgage amount, term and repayment method are staying the same
• You're happy with the estimated loan to value and don’t require a revaluation
• The mortgage is outside any Early Repayment Charge (ERC) period, or has four months or less remaining on the ERC period
• Your customer is not residing in the property
• Your customer is not in arrears or in a concessionary period on their mortgage
• The remaining mortgage term exceeds the chosen product by at least six months.

Things you need to know:

Fees:  Product transfer fees must be paid before completion or added to the loan.

Loan to Value (LTV): We use a house price index to verify LTV. Your customer may not qualify for the product chosen if we find that the LTV is different. Revaluations are available on request; these are subject to a fee. Please call us for further information.

Offer: The offer is valid for 30 days. Your customer will need to sign and return the offer within this time to secure the rate.

Effective from: If we receive your customer's signed acceptance, together with all other requirements if requested by us:

• Before the 19^th of the month we will apply the new rate for the 1^st of the following month (or the month after their current product expires if this is later).  
• On or after the 19th of the month we won’t be able to guarantee the new rate will start from the 1^st of the following month. We will make every effort to do so but it may not take effect until a month later, for example if we receive the acceptance on 28^th July it may not take effect until 1^st September. 
• We will write to your customer to confirm their new monthly payment and the date from which the new rate is effective.