Product Transfer

A product transfer mortgage is when you switch to a new mortgage deal with the same lender, but stay in your current home and don’t change how much you’ve borrowed.

In simple terms:

• Your current mortgage deal is ending soon (like a fixed or tracker rate).

• Instead of moving to a new lender, you pick a new deal from your current lender.

• You keep the same mortgage balance, and just change the interest rate or type of deal.

People choose a product transfer because:

• It’s quick and easy — usually no credit checks, fees, or legal work.

• It helps you avoid higher interest rates when your current deal ends.

• It’s a good option if you don’t want to remortgage or borrow more money.

So, it’s basically a new deal on your existing mortgage with the same lender