If your client is approaching the end of their deal with us, you can complete a product switch in a few simple steps. We pay a 0.30% procuration fee for both residential and let switches.
Product switches take place on the 1st of the month after the original mortgage deal ends, as long as we receive confirmation of your clients’ chosen product by the 18th of the month prior to the switch taking place. We’re committed to making the same products available to existing borrowers as new borrowers, and there are no product fees to pay.
A product is secured once we have received client authority for you to act and confirmation of the agreed product. Our product deals can be changed or withdrawn at any time and without notice.
Simple steps to switch
Check back on this page within three months of the deal end date and access our latest products here.
- Let us know that your clients wish you to complete a product switch on their behalf by sending the following information to us by email.
- Your name, your firm name and FCA number
- Your principal firm name and FCA number (if applicable)
- Your email address
- The last four digits of your clients’ mortgage account number
- Your clients’ post code (correspondence address)
- The chosen product code – please ensure you have chosen the correct product type for your clients and their account
- Confirm if an ESIS is required. If yes, please let us know if you’re charging a broker fee and the amount
- We’ll email your clients to confirm that they’re happy for you to act for them and for us to share their mortgage information.
- Next we’ll provide an ESIS (if requested) and ask you to confirm that you wish to proceed. Once the client authority and this confirmation has been received, the product will be secured ready for the switch. Our product deals can be changed or withdrawn at any time and without notice. Until the product is secured, your clients will continue to receive our communications about their options and both the revert rate and monthly payment if the switch doesn’t proceed.
- The switch will take place on the 1st of the month following maturity, subject to the steps above being completed by the 18th of the month before.
- If your client pays by standing order, please remind them to amend their monthly payment accordingly.
- The proc fee will be calculated on the balance on the switch date and may differ from the amount shown in any ESIS or information sheet that may be supplied. It will be paid seven working days after the switch.
Is your client eligible to switch?
You can complete a product switch on behalf of your clients in the following circumstances:
- You are already a member of our intermediary panel. To find out about joining, please email firstname.lastname@example.org.
- There are three months or less until the mortgage deal ends.
- You have permission from the clients to act on their behalf and they don’t intend to switch with us directly.
- There is no more than one month’s arrears on the account.
- Your clients’ circumstances haven’t changed since the original deal was taken eg their country of residence or property usage.
- No other mortgage changes are needed. For additional changes, please get in touch with us on 01858 412412.
If you’d like more help