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Product switches.

Things you need to know.

We’ll write to customers up to 3 months in advance.
Our rates can change at any time*.
Our offers are valid for 14 days.
You need to be registered with us, which can take up to 48 hours. You can register here.
Product switch offers need to be requested no later than the 15^th of the month prior to the switch.
Offers need to be returned and fees paid no later than the 17^th of the month prior to the switch.
Switches take effect on the 1^st of the month.
We pay a 0.2% proc fee on retentions.

The more detailed stuff.

*Please be aware, the loyalty rates available are our current loyalty range and are subject to change at any time. We are unable to honour any rates withdrawn prior to an offer being requested. Offers are valid for 14 days, if your switch has not been submitted (and any fees due paid) by this time, we’re unable to guarantee the product availability. You may then have to choose an alternative product for your client.

How it works

Our Process.

If an offer has been requested we will honour the rate for 14 days from ESIS issued. If the product switch is not completed within the 14 days then a new ESIS will need to be requested (this will be on the rates available at this time).

Check out our rates to see what your customer is eligible for. See our rate guide above.
Complete the product switch request form.
We’ll email a digital third party authority form (TPA) to the customer.
The ESIS will be provided to you once the TPA has been received from the customer.
To accept the retention recommendation, simply sign the broker declaration within the offer document. This will also be sent to the customer for their signature.*Please make sure your customer signs and returns the offer document*
Once the customer has electronically signed the offer document – we’ll have everything we need to complete the switch (subject to all fees being paid, if electing to pay up front).
You and the customer will receive notification that the switch has been processed.
We’ll write to the customer 10 days in advance of the switch to confirm the new monthly payment.

Our retentions work in the same way our new business rates do. We launch new products from time to time and update the website rate guides to reflect changes. The rates you see on the website are the rates available.

Our switches take effect on the 1^st of the month, so we have the following deadlines in place

Offers requested: no later than the 15^th of the month prior to the switch.
Offers returned and fees paid: no later than the 17^th of the month prior to the switch.

More questions? Check out our FAQs below, or contact us on 0330 123 1073

FAQs Rate guide

Get started

Product switch.

Switch request

Intermediary name (Required)

Firm name (Required)

FCA number (Required)

Mortgage club (Required)

Email address (Required)

Phone number* (Required)

Client name (Required)

9 digit Society account number (Required)

Client phone number (Required)

Client email address (Required)

Is a product switch required? (Required)

Product code** (Required)

Product switch fee (Required)

When would you like the switch to take effect? (Required)

Is a contract variation required? (Required)

New term required

New repayment type required

Contract variation fee (Required)

Interest only amount for part & part

Client fees payable to broker

Paid upfront (£)

Paid on switch (£)

Third party authorisation to access the clients’ account

I confirm I understand the following:

This authority will not allow me to make any payments to the mortgage account for or on behalf of the account holder.
This authority will not allow me to make any changes to the mortgage account or property title.
This authority will expire on completion of the requested application or account variation.

Please confirm you have read and accepted the terms *

*An access code will be sent to this number when your offer is issued

**Product codes can be found within the Product Switch Rate Guide – see the link at the top of the page.

I agree to the processing of data in accordance with the Privacy Policy

FAQs

Your questions answered.

Are the new products portable?

The rate guide will confirm whether a particular product is portable.

Can my customers change their mind?

If your customers have returned their signed offer and now want to choose an alternative product, you can do this anytime up to 15th of the month prior to their switch becoming effective.

How does my customer pay their fee?

If there is a product switch fee this can either be paid upfront before the switch is completed, or the fee can be added to the customer’s mortgage balance. Upfront payments can be made by debit card via phone.

What happens if my customer wants to change their product early?

Existing customers may be able to switch to a new product with us up to three months prior to the current product expiring without any ERC. We’ll let them know once they are eligible to do this.

How do my customers complete a change of term or repayment type?

Please contact us on 0330 123 1073 to discuss your requirements, and we will guide you through the process.

How do my customers make an overpayment?

Overpayments can be made by cheque, by phone, or by online bank transfer. We’re unable to accept overpayments via a broker, so your customer would need to contact our mortgage servicing team on 0330 123 0723.

Note: Interest is calculated daily.

If your customers are paying over £2,000 as a lump sum, they can opt to amend their monthly payments, or the mortgage term. Please make sure your customer advises us of their preference. The default is we will amend the monthly payment.

Do you pay retention proc fees?

Yes, retention proc fees are paid for brokers acting on product switches, for new requests made from 1 October 2024. The procuration fee will need to be evident in the offer to be payable.

The procuration fee will be 0.2% of the retained balance, payable for all existing customers switching mortgage products. All procuration fees will be paid within 28 days of the product switch. Please contact us if you have any queries.

Where can my client find their mortgage account number?

The account number is a 9-digit number that can be located on their completion letter, annual mortgage statement or their maturity letter.

When is the first mortgage payment taken after completion?

If the mortgage completes on or before 20^th of the month, the first Direct Debit will be collected on 1^st of the following month. If completion falls after the 20^th of the month, the first Direct Debit will be collected 10 days after completion.

Every month thereafter, the Direct Debit will be collected on the 1^st of the month.

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