What is a mortgage product transfer?

A mortgage product transfer can be thought of as a remortgage with the same lender. It is used by borrowers where their special interest rate period has ended.

A mortgage transfer means transferring to a new mortgage deal (fixed rate, tracker rate etc) but staying with your current mortgage lender. The loan amount and mortgage term are generally not altered during this process.

There are a few reasons why this is a popular choice:

• It’s quick. Just confirm the new deal you would like and the product transfer will be completed in a matter of days
• It’s cheap. There’s either no fees or low fees.
• It doesn’t usually involve credit or income checks. So if your circumstances have changed since first applying this can be helpful

Useful pages:

• Our guide to mortgage product transfers
• Remortgage Guide
• Is a remortgage based on income?

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