Product Transfers
Is your fixed rate up for renewal in 6 months or less?
We’re seeing more lenders adjust their product transfer windows, which means you may be able to secure your next rate earlier than you think. Your lender will usually write to you as you approach the end of your deal; that’s your cue to get in touch with your broker, as that’s where we come in. As your broker, we’ll review all your options well in advance and get in touch at the right time to help you lock in a suitable rate. And it doesn’t stop there… We’ll keep monitoring the market for you, so if better rates come along, we’ll let you know – saving you time, stress, and the constant checking.
Less hassle. Smarter timing. Better outcomes. If your deal is ending in the next 4-6 months, now’s the time to start the conversation.
Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.
FAQs
What is a Product Transfer?
A product transfer allows you to switch your current mortgage deal to a new deal with the same lender, which can be helpful if you're looking for a better rate or more suitable terms without the hassle of changing lenders. This usually happens when your fixed rate or current mortgage deal is coming to an end, and your existing lender offers a different mortgage product.
When will a product transfer become available?
Product transfers are usually available to eligible customers within 3 months of an existing deal ending, but with some lenders you can secure a new rate up to 6 months in advance.
How does a product transfer differ from a remortgage?
A product transfer is a remortgage that allows you to switch to a new mortgage deal with your existing lender. It’s usually quicker and simpler than moving to a new lender because it often doesn’t involve legal work (conveyancing), property valuations, or full credit checks.
The term 'remortgage' generally refers to paying off your existing mortgage by taking out a new one with a different lender, which can open up a wider range of deals and potentially more competitive rates.
A full remortgage with a new lender usually takes around 4-8 weeks from start to completion, whereas a product transfer can usually be completed within a matter of days.
Is a product transfer right for me?
If your current mortgage deal is coming to an end, CrowNEST Mortgages can help you compare product transfer and remortgage options based on your circumstances. Whether you are considering staying with your current lender or switching to a new mortgage deal, we can help you understand the options available.
Contact us
Contact us today for all your mortgage needs
Ready to take the next step?
Schedule a free, no-obligation chat to discuss your plans and explore what is possible, with no pressure to proceed.
Office: 01274 265571
alfie@crownestmortgages.co.uk
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