What is a product transfer mortgage?

A product transfer is when you switch to a new mortgage rate or deal with your existing lender at the end of your current fixed or introductory rate period, rather than remortgaging to a different provider. It is usually faster and simpler than a full remortgage.

How does the mortgage product transfer process work?

Your broker will review your current mortgage deal, compare the new rates your existing lender is offering, and handle the paperwork to switch you across. Product transfers usually involve no credit checks, no legal fees and no property valuation, making the process much quicker than a full remortgage.

Is a product transfer better than remortgaging to a new lender?

It depends on your circumstances. A product transfer is faster and often simpler but remortgaging to a new lender may offer better rates, more flexible terms or additional features. A whole of market broker can compare both options and help you decide which is more suitable for your situation.

Can I do a product transfer before my current deal ends?

Yes. Many lenders allow you to secure a new rate up to 3 to 6 months in advance of your current deal ending, helping you avoid rolling onto your lender's Standard Variable Rate. This can be a useful way to lock in a rate if you think rates may rise before your deal expires.

Do I need a new affordability check for a product transfer?

Often no. Most lenders do not reassess affordability for a straightforward product transfer unless you are changing the loan amount or the mortgage term. This makes it a more accessible option if your financial circumstances have changed since you first took out the mortgage.

How long does a product transfer take?

A product transfer is usually much quicker than a full remortgage. Many transfers are processed within a few days of accepting the new rate, as there is no legal work or valuation required in most cases.

Will a product transfer affect my credit score?

No. Unlike remortgaging to a new lender, a product transfer with your existing lender typically does not require a new credit check and will not leave a hard search on your credit file.

Can I raise additional funds during a product transfer?

Some lenders do allow additional borrowing alongside a product transfer, but this will usually trigger a full affordability assessment and credit check. If you need to raise capital it may be more straightforward to consider a full remortgage rather than a product transfer.

Product Transfer Mortgages

When your current mortgage deal is ending, switching to a new rate with the same lender can be quicker and simpler than a full remortgage. This process is called a product transfer mortgage, and it can help you avoid higher rates and extra admin. At WIS Mortgages, we guide you through the mortgage product transfer process with expert support every step of the way.

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Key Benefits

Fast and Simple Process:

No new legal work or property valuation in most cases.

Avoid Standard Variable Rates:

Secure a new deal before your existing one ends.

No Affordability Checks (In Many Cases):

Ideal if your income or circumstances have changed.

Expert Advice:

We’ll find the most competitive deal your current lender offers.

Product Transfer vs Remortgaging: What’s the Difference

A product transfer means switching to a new deal with your existing lender, while a remortgage means moving your mortgage to a different lender entirely. Product transfers are generally quicker and involve less paperwork, since your current lender already holds your financial information and typically doesn’t require a fresh affordability check if you’re borrowing the same amount over the same term. A remortgage, by contrast, opens up the whole market and can be worthwhile if better rates are available elsewhere, or if you want to borrow more or change your mortgage structure.

When to Start Looking at a Product Transfer

Most lenders open their product transfer window several months before your current deal ends, and starting early means you can lock in a new rate ahead of time and avoid ever rolling onto your lender’s standard variable rate (SVR), which is typically significantly more expensive. Product transfer windows vary by lender — some open as early as six months before your deal ends, others closer to three or four — so it’s worth checking your specific lender’s timeline rather than assuming a universal rule applies.

Why a Product Transfer Can Be Quicker

Because you’re staying with the same lender and borrowing the same amount over the same term, most product transfers don’t require a new property valuation, new legal work, or a fresh affordability assessment. This makes the process considerably faster than a full remortgage, which typically involves solicitors, land registry updates, and a new lender’s underwriting process from scratch. For homeowners whose circumstances haven’t changed much, this speed and simplicity is often the main appeal.

When Your Circumstances Have Changed

A product transfer works well if your circumstances are broadly the same as when you took out your current mortgage, but if your income, employment status, or credit profile has changed — for better or worse — it’s worth having a broker check whether a full remortgage across the wider market might actually get you a better outcome. Sticking with your existing lender out of convenience isn’t always the cheapest option, even though it may be the simplest.

Can You Raise Capital Through a Product Transfer?

Product transfers generally don’t allow you to raise additional capital — if you want to borrow more against your property, for home improvements, debt consolidation, or another purpose, this typically requires a full remortgage application rather than a simple product transfer with your existing lender. If capital raising is part of what you’re looking to do, it’s worth discussing this with a broker early, since it changes which route is actually the right fit for you.

Comparing Your Lender’s Offer Against the Wider Market

Just because your existing lender offers you a product transfer deal doesn’t mean it’s automatically the best rate available to you. Lenders don’t always put their most competitive products in front of existing customers by default, so comparing your lender’s product transfer offer against the wider remortgage market is worth doing before committing, even if you ultimately decide the product transfer is still the right choice for convenience or speed.

What Happens If You Do Nothing

If your current deal ends and you take no action, you’ll automatically move onto your lender’s standard variable rate, which is usually considerably more expensive than the fixed or discounted rate you were on. This can mean a noticeable increase in monthly payments with little warning if the date isn’t tracked carefully. Setting a reminder well ahead of your deal’s end date, or having a broker monitor it for you, helps avoid this default outcome.

Why Speak to a Specialist Broker

Deciding between a product transfer and a full remortgage isn’t always straightforward, since the right choice depends on your current lender’s specific offer, how your circumstances have changed, and whether you need to raise additional capital. A broker can compare your existing lender’s product transfer terms against the wider market, handle the paperwork if a transfer or remortgage is the right route, and make sure you’re not defaulting to convenience when a better deal is available elsewhere.

Eligibility Criteria and Requirements.

Who Can Apply?

You may be eligible if you:

Have an existing mortgage with a UK lender
Are near the end of a fixed, tracker, or discount deal
Are not looking to change your mortgage amount, term, or structure
Are current on mortgage payments and meet your lender’s basic criteria

What are the Requirements?

Latest mortgage statement
Photo ID and proof of address
Consent to check current product eligibility
In most cases, no income proof or valuation is needed for a standard transfer

Please note: Meeting these criteria does not guarantee mortgage approval. All applications are subject to underwriting and affordability checks by the lender.

The Challenges

Limited access to the full mortgage market when staying with your current lender
Risk of missing better deals due to lack of comparison
Confusion about whether advice is being provided
No valuation or updated affordability checks can lead to missed financial optimization.

How we help you

We compare your current lender’s product transfer offer with the wider market to ensure it’s still the best fit.
Our advisers explain whether a product transfer or remortgage is more financially beneficial.
We help handle the paperwork and negotiations with your current lender if a transfer is your best option.
Our advice ensures that any decision taken aligns with your financial goals and FCA

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How the Application Process Work?

Applying for a mortgage through our service is straightforward

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Book an appointment with one of our advisers to discuss your mortgage requirements. Be transparent about your situation so we make the whole journey much smoother for you.

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Completion

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Processing times vary depending on lender efficiency and individual case complexity.

Important Information And Regulatory Disclosure

Risk Warning

Your property may be repossessed if you do not keep up repayments on your mortgage.

FCA Authorisation

This service is provided by WIS Mortgages, which is authorised and regulated by the Financial Conduct Authority.

Fee & Commission Disclosure

We act as a mortgage intermediary and may receive commission from lenders. A fee may be payable for mortgage advice, which will be disclosed clearly in advance.

Adviser Disclosure

This content is for informational purposes and does not constitute personalised financial advice. Mortgage advice will be provided after assessing your individual circumstances.

Frequently Asked Questions

Find answers to some of the most common questions about mortgages, applications, and our services.

It’s when you switch to a new mortgage rate or deal with your existing lender, rather than remortgaging to a different provider.

We’ll help review your current deal, compare new rates your lender offers, and handle the paperwork.

It depends. Transfers are faster and often simpler, but remortgaging to a new lender may offer better rates or features. We’ll help you weigh the options.

Yes, many lenders allow you to lock in a new rate up to 6 months in advance of your deal ending—helping you avoid SVRs.

It’s when you switch to a new deal with your current lender at the end of your fixed or introductory rate—without remortgaging to a different provider.

Often no. Most lenders don’t reassess affordability unless you're changing the loan amount or term.

It’s usually quicker than a remortgage—many transfers are processed within days of accepting the new rate.

Yes. Some lenders allow you to secure a new deal up to 3–6 months in advance, avoiding early repayment charges.

No. Unlike remortgaging to a new lender, no new credit check is typically required for a product transfer.

Some lenders allow additional borrowing, but this usually triggers a full application and affordability check.