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.
How can I organise a product transfer and remortgage comparison?
Keep a separate note for each option, using the information you receive from the lender or advisor. Record what is confirmed and what still needs an answer. A mortgage illustration sets out the proposed mortgage details and can help you discuss the options.
Use these headings in your own notes for both routes:
1. Identify the information
Note the lender, product name, document date and when you received it. Keep the illustration or other paperwork with your notes so you can find the detail again.
2. Record what you asked for
Write down your intended borrowing amount, mortgage term and any planned changes. Ask the advisor to explain differences between the options and whether they reflect the same plans.
3. Keep unanswered questions visible
Work through the comparison questions above for each route. Mark missing information as “to confirm”, and note who you will ask. Keep the answer alongside the document it relates to.
4. Agree the next step
Ask what information is needed next and which dates you need to confirm. Keep your current deal end date separate from any proposed start date for a new deal.
A practical example
You have information from your current lender and an illustration for another lender, but the mortgage terms shown differ. Write: “Are these based on the same borrowing plans? Please explain the difference before I compare them.” This is a preparation example, not a recommendation to choose either route.
For your current mortgage details and wider preparation, use our remortgage preparation checklist. When you are ready, request a conversation about staying with your lender or switching.
Discuss staying with your lender or switching
Tell us when your deal ends and what you want to achieve. An advisor can help you compare the next steps.
Sources
- MoneyHelper: mortgage advice and the mortgage illustration document
- MoneyHelper: reviewing your mortgage and comparing routes
Information checked 3 October 2026. General information, not a personal mortgage recommendation.