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Residential Product Transfers
We’re pleased to accept product transfers from intermediaries acting on behalf of existing residential borrowers.
Brokers will need to complete and return a Mortgage Product Transfer Authority Form with their clients.
To make the transfer for your client online, you will also need details of the appropriate product for your client together with the code provided in the letter they receive when their current deal is coming to an end.
Please find our current available products for existing residential borrowers transferring to a new deal.
We have 8 products available
Versatility – 2 Year Discounted Variable Rate – CPDR05
| Term | 2 Years |
| Initial Rate1 | 6.14% Variable |
| Overall Cost For Comparison2 | 8.2% APRC |
| MAX LTV3 | 85% |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | None |
A mortgage of £165,886.90 payable over 15 years initially on a variable rate, currently 6.14% for 2 years and then on our current standard variable rate of 8.64% for the remaining 13 years would require 24 monthly payments of £1412.43 and 156 monthly payments of £1619.94.
The total amount payable would be £286,733.96 made up of the loan amount, plus interest and Redemption Administration Fee (£125) totalling £120,847.06.
The overall cost for comparison is 8.2% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Residential 3 Year Discounted Variable Rate – DID78A
| Term | 3 Years |
| Initial Rate1 | 5.78% Variable |
| Overall Cost For Comparison2 | 8.1% APRC |
| MAX LTV3 | Over 85% and up to 95% |
| Early Repayment Charge | 3% in Year 1, 2% in Year 2, 1% in Year 3 |
| Product Fees | None |
A mortgage of £176,843.52 payable over 26 years initially on a discounted variable rate of 5.78% for 3 years and then on our current standard variable rate of 8.64% for the remaining 23 years would require 36 monthly payments of £1096.70 and 276 monthly payments of £1396.90.
The total amount payable would be £425,150.60 made up of the loan amount, plus interest and Redemption Administration fee (£125) totalling £248,307.08.
The overall cost for comparison is 8.1% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Residential 3 Year Discounted Variable Rate – DID77A
| Term | 3 Years |
| Initial Rate1 | 5.30% Variable |
| Overall Cost For Comparison2 | 8.1% APRC |
| MAX LTV3 | 85% |
| Early Repayment Charge | 3% in Year 1, 2% in Year 2, 1% in Year 3 |
| Product Fees | None |
A mortgage of £91,021.63 payable over 35 years initially on a discounted variable rate of 5.30% for 3 years and then on our current standard variable rate of 8.64% for the remaining 32 years would require 36 monthly payments of £476.94 and 384 monthly payments of £677.41.
The total amount payable would be £277,420.28 made up of the loan amount, plus interest and Redemption Administration fee (£125) totalling £186,398.65.
The overall cost for comparison is 8.1% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Shared Ownership 3 Year Fixed Rate – SX-10P
| Term | 3 Years |
| Initial Rate1 | 5.75% |
| Overall Cost For Comparison2 | 8.1% APRC |
| MAX LTV3 | 95% of the share owned, 75% property value |
| Early Repayment Charge | 3% in Year 1, 2% in Year 2, 1% in Year 3 |
| Product Fees | None |
A mortgage of £71,927.68 payable over 30 years initially on a fixed rate of 5.75% for 3 years and then on our current standard variable rate of 8.64% for the remaining 27 years would require 36 monthly payments of £419.75 and 324 monthly payments of £550.51.
The total amount payable would be £193,601.24 made up of the loan amount, plus interest and Redemption Administration Fee (£125) totalling £121,673.56.
The overall cost for comparison is 8.1% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Residential 3 Year Fixed Rate – DIX73A
| Term | 3 Years |
| Initial Rate1 | 4.99% |
| Overall Cost For Comparison2 | 8.0% APRC |
| MAX LTV3 | 85% |
| Early Repayment Charge | 3% in Year 1, 2% in Year 2, 1% in Year 3 |
| Product Fees | None |
A mortgage of £91,021.63 payable over 35 years initially on a fixed rate of 4.99% for 3 years and then on our current standard variable rate of 8.64% for the remaining 32 years would require 36 monthly payments of £458.79 and 384 monthly payments of £675.91.
The total amount payable would be £276,190.88 made up of the loan amount, plus interest and Redemption Administration Fee (£125) totalling £185,169.25.
The overall cost for comparison is 8.0% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Residential 2 Year Fixed Rate – DIX66A
| Term | 2 Years |
| Initial Rate1 | 5.39% |
| Overall Cost For Comparison2 | 8.4% APRC |
| MAX LTV3 | 85% |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | None |
A mortgage of £91,021.63 payable over 35 years initially on a fixed rate of 5.39% for 2 years and then on our current standard variable rate of 8.64% for the remaining 33 years would require 24 monthly payments of £482.26 and 396 monthly payments of £681.74.
The total amount payable would be £281,668.28 made up of the loan amount, plus interest and Redemption Administration Fee (£125) totalling £190,646.65.
The overall cost for comparison is 8.4% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Residential 3 Year Fixed Rate – DIX64A
| Term | 3 Years |
| Initial Rate1 | 5.85% |
| Overall Cost For Comparison2 | 8.1% APRC |
| MAX LTV3 | Over 85% and up to 95% |
| Early Repayment Charge | 3% in Year 1, 2% in Year 2, 1% in Year 3 |
| Product Fees | None |
A mortgage of £176,843.52 payable over 26 years initially on a fixed rate of 5.85% for 3 years and then on our current standard variable rate of 8.64% for the remaining 23 years would require 36 monthly payments of £1104.28 and 276 monthly payments of £1397.70.
The total amount payable would be £425,644.28 made up of the loan amount, plus interest and Redemption Administration Fee (£125) totalling £248,800.76.
The overall cost for comparison is 8.1% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Versatility – 2 Year Fixed Rate – CPXR10
| Term | 2 Years |
| Initial Rate1 | 6.49% |
| Overall Cost For Comparison2 | 8.3% APRC |
| MAX LTV3 | 85% |
| Early Repayment Charge | 2% in Year 1, 1% in Year 2 |
| Product Fees | None |
A mortgage of £165,886.90 payable over 15 years initially on a fixed rate of 6.49% for 2 years and then on our current standard variable rate of 8.64% for the remaining 13 years would require 24 monthly payments of £1,444.14 and 156 monthly payments of £1,623.95.
The total amount payable would be £288,120.56 made up of the loan amount, plus interest and Redemption Administration Fee (£125) totalling £122,233.66.
The overall cost for comparison is 8.3% APRC representative.
A representative example is designed to help understanding of the typical cost of this mortgage. This is not an illustration and is only provided as an example.
Definitions
1. Initial Rate
The Initial Rate is the rate available during the initial term of the mortgage. Once the initial rate term has expired, the mortgage will either revert to our Standard Variable Rate (SVR), or a follow-on rate that is a discount off our SVR. Our SVR is set by us and is currently 8.64%, as a variable rate it may go up or down. Our follow-on rate is 1.74% below our SVR (currently 6.90% variable) and will go up or down with changes to our SVR.2. Overall Cost for Comparison
The Overall Cost for Comparison is given as the Annual Percentage Rate of Charge (APRC) and includes all charges incurred relating to the mortgage. The APRC is intended to help you as a borrower compare the interest rates on different products.3. Max LTV
Like all other mortgage lenders, we will allow you to borrow against a proportion of the overall property value. This is known as Loan to Value (LTV) and is expressed as a percentage. For example, if you want to purchase a property at £100,000 and you would like to borrow £85,000, then you will need a mortgage available at 85% Loan to Value (LTV). The available LTV can vary depending upon the type of mortgage. Shared Ownership mortgages will offer two percentages under LTV - the proportion of the property value and the proportion of the share being purchased.Your home may be repossessed if you do not keep up repayments on your mortgage
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