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Deadline dates for changing or cancelling an accepted product transfer offer
Eligibility
Once your client has accepted their product transfer offer, you can change their deal, or request a cancellation if:
- the deal is due to start on a future date, and
- there’s at least 14 days before the start date.
No changes or cancellations are allowed within 14 days of the start date.
The deadline dates for you to change or cancel a new deal are:
Changing an accepted product transfer deal online
Only available for mortgages with a single loan part and if your client hasn’t paid a product fee upfront.
1. Log on to our online mortgage transfer service in Introducer Internet to view our current available product transfer rates and submit your request for the new deal.
2. The pre-booked deal already pending on your client’s mortgage will only be cancelled once your client has accepted their new product transfer offer.
For full details and timescales, visit the product transfer cancellation process section on our website.
Changing an accepted product transfer deal by email
You cannot change your client’s product transfer deal online where they have:
- a mortgage with multiple loan parts, and/or
- paid a product fee upfront.
To cancel the deal already pending on your client’s mortgage you’ll need to:
1. Log on to our online mortgage transfer service in Introducer Internet to view our current available product transfer rates.
2. Submit a cancellation request by emailing [email protected] with the required information.
3. Once we’ve confirmed the pre-booked deal has been cancelled, log on to our online mortgage transfer service in Introducer Internet to submit your request for the new deal.
For full details and timescales, visit the product transfer cancellation process section on our website.
Cancelling an accepted product transfer without booking a new deal
You cannot cancel your client’s accepted product transfer deal online.
To submit a cancellation request, you must email [email protected] with the required information.
For full details and timescales, visit the product transfer cancellation process section on our website.
New business and product transfer fixed rate changes
On Tuesday 13 February, we’re reducing selected residential fixed rates for remortgages. We’re also reducing selected residential fixed rates and increasing some 1 year fixed rates in the product transfer range. In addition, we’re reducing all Buy to Let fixed rates across the new business and product transfer ranges.
There will be no change to large loan exclusives or tracker rates.
New business and product transfer completion deadlines and charge end dates will roll on by 1 month. Please see the ‘Monthly housekeeping’ section below for more information.
New business
- Selected standard residential fixed rates reducing by between 0.05% and 0.16% for remortgages.
- All Buy to Let fixed rates reducing by between 0.05% and 0.15%.
Product transfers
- Selected residential fixed rates reducing by between 0.05% and 0.16%.
- Selected residential 1 year fixed rates increasing by between 0.07% and 0.17%.
- All Buy to Let fixed rates reducing by between 0.05% and 0.15%.
- For clients who want to change or cancel their new deal.
- If they haven’t accepted their product transfer offer yet, you can select a new product in the online mortgage transfer service for them and a new offer will be issued. Please make sure your client accepts the correct offer for the deal they wish to book.
- If they’ve already accepted their new deal, you can change to a different deal or cancel the one that’s already booked for them. You must do this at least 14 days before their new deal starts. Please see the ‘Product transfer cancellation process’ section on the Product transfers page.
- Whilst a product transfer is pending, your client cannot make any other changes to their mortgage until that new deal has started. This includes a switch to interest only for 6 months or a term increase under the Mortgage Charter, and other changes such as overpayments.
Monthly housekeeping
- Roll on of our new business benefit end dates by 1 month.
- Roll on of our new business and product transfer charge end dates and completion deadlines by 1 month.
- Completion deadlines have been rolled on to:
- 30 August 2024 for purchases
- 5 September 2024 for remortgages
- 5 September 2024 for product transfers.
- Product codes will be replaced across the new business and product transfer ranges.
Further information
- Full details of our new business range can be found in Rate Bulletin (Issue 5). You’ll find this on our Latest mortgage rates page from Tuesday 13 February.
- From Tuesday 13 February you can log on to our online mortgage transfer service in Introducer Internet to view your client’s choice of rates. You won’t find these on sourcing systems.
- You must submit your new business and product transfer applications on our current ranges by 10pm on Monday 12 February.