Product transfer
Product Transfer stay with your lender
A product transfer lets you move to a new rate with your current lender. It can be quick and simple, but it is still worth comparing it with other options.
Talk to TonyAt a glance
- Switch to a new rate without changing lender
- Often quicker, with fewer checks than a full remortgage
- Worth comparing with other lenders before you decide
What is a product transfer?
A product transfer means taking a new deal with your existing lender when your current rate ends, rather than moving to a different lender. The mortgage itself stays where it is.
Who it may suit
Everyone's situation is different, but these are some of the situations where people look at this.
How it works with Tony
Good to know
- A product transfer is not always the cheapest option, so comparing other lenders is worthwhile.
- Your lender may only show you its own products.
- You should still check fees, early repayment charges and the total cost.
- Your home may be repossessed if you do not keep up repayments on your mortgage.
Meet your adviser
Hi, I'm Tony Flynn
I'm a mortgage and protection adviser based in Carluke, helping people across Lanarkshire and Scotland.
I've spent 15+ years in finance and have been named Mortgage Professional of the Year at the Prestige Awards Scotland five years in a row. I'll explain your options in plain English so you know exactly where you stand.
Product Transfer questions
Is a product transfer better than a remortgage?
Not always. It can be simpler, but a remortgage could give access to a wider choice of deals. Tony can compare both for you.
Do I need a new valuation?
Often not with a product transfer, but it depends on your lender and what you are doing.
Can I borrow more with a product transfer?
Sometimes, but it depends on the lender. Tony can talk through what may be possible.
Can Tony help with a product transfer?
Yes. Tony can look at your lender's options and compare them with other deals.
Do you charge a fee for mortgage advice?
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Ready to talk it through?
A quick chat with Tony is a good first step. No jargon, no pressure.
Talk to Tony