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Exciting news! Broker acceptance for product transfers is live 🎉
It’s time for you to start accepting product transfer offers on behalf of your clients and to choose when it starts, if eligible to switch early.
It’s important you understand what you’ll need to do as your client will no longer get the link to accept the offer.
Submitting a product transfer request
We’ve made the following changes in the online mortgage transfer service.
o There’s a new broker declaration. You’ll be asked to confirm you have your client’s permission to accept the product transfer offer on their behalf.
o On the important information screen, you’ll be asked to tick two new boxes.
- To confirm you’ve provided your client with either a mortgage illustration or a copy of the product transfer offer.
- To confirm you have your client’s permission to accept the product transfer offer and to choose when it starts, if eligible to switch early.
We’ve updated our view mortgage details or submit a product transfer guide on our website to include the new screens.
Case tracking updates by email
From Monday 17 November, we’ll still send case tracking email updates to you and your clients, but the content has changed. Most importantly, you’ll get the link to review and accept the offer on your client’s behalf. Your client won’t get the link and won’t be able to accept the offer. They’ll just be kept up to date with the progress.
Remember, if you use the link we send you in the ‘offer ready for review’ email, the OLA reference number will automatically populate directly into the log on screen.
Accepting a product transfer offer
No changes have been made to the acceptance screens, and you’ll be reading them as if you are the client.
If your client’s new rate is lower than their current rate, you’ll need to agree with them whether they want the new deal to start straightaway (the date you accept their offer) or wait until the day after their current deal ends. If they choose to start straightaway, we’ll waive any ERC.
To support you with this change, we’ve renamed our guide to helping you accept your client’s product transfer and included what the acceptance screens look like.
Important information
Any product transfers submitted before Monday 17 November will still need to be accepted by your client. However, as we’ve updated our case tracking emails, you’ll now receive the 10 day reminder email instead. Please forward the reminder email to your client so they can log on and accept the offer before the deadline.
The confirmation of acceptance emails for this period will also advise your client that you accepted the offer on their behalf, when they will have accepted it. No action is required, but please reassure your client that everything will progress correctly.