Product transfer
You stay with your existing lender and change to another available product, subject to that lender’s process and options.
Product transfer vs remortgage
When your current deal is ending, you may compare a new deal with your existing lender against switching to a different lender. The right questions depend on your circumstances.
What is the difference?
Remortgage
You apply to a different lender, which may involve affordability, valuation, legal and product checks.
| Question | Why it matters |
|---|---|
| When does your current deal end? | Timing can affect the options available and whether an early repayment charge applies. |
| Do you need to change the mortgage? | Consider whether you need a different term, amount, repayment type or lender. |
| What will it cost? | Compare product fees, advice fees, legal and valuation costs and any charges. |
| Has anything changed? | Income, borrowing, property value and plans may affect the assessment. |
Prepare before comparing
- Find your deal end date and current balance.
- Check whether an early repayment charge applies.
- Note any change in income, borrowing or plans.
- Decide whether you need to raise or repay capital.
- Compare the total cost, not only the interest rate.
Talk to a mortgage advisor
Share your details if you would like an advisor to discuss this guide and your circumstances.