🔄 UK Mortgage Product Transfer Guide
Your deal is ending.
Don’t drift onto SVR.
When your mortgage fixed or tracker rate ends, you move onto your lender’s Standard Variable Rate — which is almost always much higher. A product transfer secures a new deal quickly, with no legal or valuation fees — though product fees may still apply.
SVR
costs more than a new deal — often significantly
No legal
or valuation fees on a PT — product fees may apply
Days
to arrange vs weeks for a full remortgage
The Basics
What is a
Product Transfer?
A Product Transfer (PT) means switching to a new mortgage deal with your existing lender — without the legal work of a full remortgage.
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Same Lender, New Deal
You remain with your current lender. There is no change of lender, no new legal process and no full affordability re-assessment in most cases.
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No Legal Fees
Unlike a remortgage to a new lender, a product transfer does not require solicitors or a new valuation in most cases — keeping costs minimal.
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Fast to Arrange
Product transfers can often be completed within days. You can also lock in a new rate up to 6 months before your current deal ends.
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Limited to Current Lender
You only see your current lender’s retention products. A broker can compare these against the full market to ensure you get the most suitable deal available.
Key Decision
Product Transfer
vs full Remortgage.
Both routes secure a new mortgage deal — but they suit different situations. We help you decide which is right for you.
Product Transfer
Stay with existing lender
No solicitor or valuation required
No full affordability reassessment
Quick — can complete in days
Limited to current lender’s deal range
Cannot raise additional funds
Full Remortgage
Switch to any lender on the market
Legal fees apply (often covered by lender)
Full affordability and credit assessment
Typically 4–8 weeks to complete
Access to comprehensive lender panel
Can borrow additional funds
When to Choose a PT
When does a
Product Transfer win?
A product transfer isn’t always the answer — but in certain circumstances it’s the most suitable and efficient route.
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You Need Speed
Your rate is ending imminently and you need to act quickly. A PT can be arranged in days without the full remortgage process.
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Your Circumstances Changed
Income reduction, change of employment status or credit issues may mean you no longer qualify for the same borrowing elsewhere. A PT avoids a new full assessment.
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Lender’s Rate is Competitive
After comparing the full market, your current lender’s PT rate is the most suitable deal available. No need to go through a full remortgage.
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Property Issues
Cladding, non-standard construction or other property issues can complicate a remortgage to a new lender. A PT avoids a new valuation in many cases.
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Low Outstanding Balance
If your remaining mortgage balance is small, the savings from a lower rate elsewhere may not outweigh the cost and time of a full remortgage.
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No Borrowing Needed
If you simply want a new rate without changing anything else about your mortgage — borrowing, term, or structure — a PT does the job cleanly.
Timing Your Switch
Don’t pay an
early repayment charge.
Switching before your current deal ends may trigger an early repayment charge. Getting the timing right is crucial — and we help you do exactly that.
6 Months Out
Lock in a new rate. Most lenders allow early application before deal ends.
3 Months Out
Ideal window to review and act. Maximum choice. ERC still applies if leaving early.
Deal End Date
Switch completes here. No early repayment charge to pay.
After Expiry
SVR kicks in immediately. Every month on SVR costs you more.
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Early Repayment Charge (ERC)
If you leave a fixed or tracker deal before it ends, your lender may charge an early repayment charge — typically a percentage of the loan. We check this before recommending any action.
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Rate Reservations
Many lenders allow you to reserve a product transfer rate up to 6 months ahead — protecting you if rates rise before your deal ends.
The Process
How a Product Transfer
works in practice.
The process is straightforward — but having a broker review the full market first ensures you’re getting the most suitable deal available.
Step 1
Market Review
We compare your lender’s PT rates against our comprehensive lender panel. PT may win — or a remortgage may suit better.
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Step 2
ERC Check
We confirm your current deal end date and any early repayment charges to ensure perfect timing.
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Step 3
Product Selection
We advise on the most suitable deal from your lender’s retention range — or across the market if remortgaging.
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Step 4
Application
For a PT: submitted directly to your lender, often confirmed same day. For remortgage: full application process.
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Step 5
New Rate Active
Your new deal starts on your agreed date. Mortgage continues, new rate applies — no SVR drift.
The MakeMyMortgage Difference
Don’t just accept
what your lender offers.
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Full Market Comparison
Your lender wants to keep you — but that doesn’t mean their retention rate is the most suitable. We compare against a comprehensive panel representative of the whole of the market.
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Proactive Reminders
We track your deal end date and contact you in good time — so you never drift onto SVR accidentally.
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PT vs Remortgage Advice
We give you a clear recommendation on whether a product transfer or a full remortgage is the more suitable route for your current circumstances.
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Regulated, Expert Advice
Providing regulated advice and working for you. Your lender’s retention team works for the lender. We work for you.
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Swift Turnaround
We keep the process efficient. Product transfers can often be arranged and confirmed within 24–48 hours of our recommendation.
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Broker-Only Rates Available
Some mortgage rates are only available through brokers and not accessible by going direct to lenders.
Get Started Today
Deal ending soon? Let’s review your options.
No obligation. We’ll compare the full market before recommending anything.
Regulatory Information
Your Rights & Our Status
⚠️ Important Risk Warning
Your home may be repossessed if you do not keep up repayments on your mortgage.
🏗️ Our Regulatory Status
MakeMyMortgage is an Appointed Representative of PRIMIS Mortgage Network, a trading name of Personal Touch Financial Services Ltd. Personal Touch Financial Services Ltd is authorised and regulated by the Financial Conduct Authority.
💷 Fee Information
We may charge a broker fee for our mortgage advice service. Our fee will be discussed and agreed with you before any work begins. Our typical fee is £299 but this can vary depending on the complexity of your mortgage needs. Our fee will be discussed and agreed with you before any work begins.
📞 Contact Us
MakeMyMortgage · makemymortgage.co.uk · This guide is for information purposes only and does not constitute personal mortgage advice. Information was correct at time of publication and is subject to change.
We offer mortgage advice based on a comprehensive panel of lenders representative of the whole of the market. We do not offer advice across all available products from all lenders. Personalised mortgage advice is available on request. The guidance contained within this document is subject to the UK regulatory regime and is therefore primarily targeted at consumers based in the UK.