Product Transfers | Accord Mortgages
product transfers
So your client's current deal is ending or they want to switch, you can see what's available and transfer them now.
Product finder
Product transfer via the portal
This tells us your client has accepted and has all the supporting documents:
In this situation, the system will cancel the original transfer and your client will get a refund of the product fees.
You will need to submit a new product transfer on the portal by selecting a product that is on sale. Please do not challenge the valuation when you submit for the second time. This is because the portal will have been updated to reflect the revaluation result.
Product transfer with additional loan
We process additional loans and product transfers separately.
You must complete an additional loan illustration request and the additional loan application before or after requesting a product transfer.
If you do it before, we’ll need to release the funds before you can continue with the transfer.
Review your client’s account information, select the product they need and follow the steps.
You can ask for a revaluation at this point - simply amend the property value to request it.
If you’ve not requested a revaluation, you’ll get an offer from us straight away. You need to give your client a copy of the offer and these supporting documents at this point:
This tells us your client has accepted and has all the supporting documents:
In this situation, the system will cancel the original transfer and your client will get a refund of the product fees.
You will need to submit a new product transfer on the portal by selecting a product that is on sale. Please do not challenge the valuation when you submit for the second time. This is because the portal will have been updated to reflect the revaluation result.
Product transfer with an overpayment
the product transfer using the online product transfer form.
Product transfer with term / type change
Please note we cannot accept handwritten applications. The form is editable and you must fill it in on your computer. You can read our Editable PDFs guide if you need help with this.
Common errors that stop the application being processed:
- Incorrect or missing introducer details.
- Consent boxes not being ticked.
- Missing Direct Debit details.
Please make sure you include the above as part of the application to avoid delays.
If you are still having difficulties please call our Variations team on 0345 166 9267 for support.
Product transfer with multiple changes
To complete multiple changes along with your Product Transfer, please call us on 0345 166 9267
Online product transfer form
Your client has 14 days to accept and return the offer if you apply using the form.
Your client can switch to a new rate on a residential mortgage, on a like-for-like basis, up to 14 calendar days before their new deal starts. But only the rate can change. Everything else must stay the same.
Here’s an example:
- Current transfer product: 2 year fixed at 75% LTV with £995 fee at 6.99%
- New like-for-like request: 2 year fixed at 75% LTV with £995 fee at 6.49%.
You or your client must complete a new Product transfer rate switch request form, once we have accepted a product transfer.
Please note:
- If they choose a new product and it meets our criteria, we'll cancel the current product transfer.
- We won't communicate any subsequent rate changes to your clients.
- You must have consent from all parties before you submit a new Product transfer rate switch request form.
What you need to know and frequently asked questions
If your client needs to make a transfer, select the options above and follow the steps. In most cases, the process will be through our portal.
However, in some cases the portal may prompt you to use our Online product transfer form.
You’ll also need to use our Online product transfer form if you are Joint Borrower Sole Proprietor.
You can submit a transfer request at any time but ERCs may apply. You can secure a product within 90 calendar days of your client’s current product expiry date. No early ERCs will apply as long as the transfer takes place after their current deal ends.
If you choose to transfer your client’s product immediately, we will transfer your client on to the new product as soon as possible. However, ERCs may still apply if your client is tied into their current product.
If you choose to transfer your client’s product at a future date after their current deal expires, ERCs will not apply. The transfer will take place on their chosen date.
If your client's current deal is ending, we need 7 calendar days to process a new transfer.
If your client transfers with less than 7 calendar days left on their existing product:
Their interest rate may go back to our standard variable rate (currently 7.74%).
Their next monthly mortgage payment may increase.
If an Early Repayment Charge (ERC) applies when securing a new product, it must be paid prior to the completion date. We’re unable to proceed with the product transfer until the payment has been received. If the ERC isn’t paid by the scheduled completion date, you’ll be given a 14-day grace period. After this, the transfer will be cancelled.
You will see the illustration on the portal within the offer before you submit it. You can view it in the ‘Offer Summary’ page by selecting the ‘View’ button within the ‘Mortgage Offer’ section.
If you cannot produce an illustration using the portal, you can complete our Illustration request form. Once we have your request we’ll email the illustration back to you.
Switching to or from offset on the portal
If your client wants to switch to or from an offset product, you’ll need to give them the following documents:
- The Tariff of mortgage charges factsheet and terms and conditions from our Mortgage documents page.
- The Offset savings pack from our Forms and factsheets page.
If they want to continue and they've read and understood the offer:
- Tick the box to confirm they accept the offer.
- Make sure any fees are paid once you’ve submitted the offer.
If they want to switch to an offset product today or on a future date:
- You need to complete and return the Offset savings declaration form.
Switching to non-offset and transferring mortgage parts with different end dates using the online product transfer form.
Your client has the option to transfer all parts of their mortgage to a non-offset product, you just need to use our Online product transfer form. As long as one of their mortgage parts is close to the end date, we’ll do this without early repayment charges (ERCs). This change is subject to our standard lending criteria.
In the ‘Product Required’ section of the form, answer ‘Yes’ to the following question:
“Does this request relate to an offset multipart mortgage with differing end dates where offset is no longer required?”
When the offer is produced, ERCs will be included, but these won’t be charged.
Offer without a valuation on the portal
To secure your client’s new product, accept the transfer offer after downloading it. After you’ve accepted the transfer request offer, you’ll see a confirmation page. You can still accept it after the validity date if the product’s still available. If it’s not, you’ll need to create a new product transfer request.
Any products withdrawn in the 7-day period from the acceptance will not be available if your client does not pay the fees within this time.
Unless you ask us to do otherwise, we’ll transfer your client's mortgage to the new product on their current product’s expiry date. This is so they avoid early repayment charges (ERCs).
Offer with a valuation on the portal
When we’ve processed the valuation report, we produce the offer and email you to let you know it’s on the portal. Then, all you need to do is complete and upload the Offer acceptance form.
Offer with or without a valuation using the online transfer request form
If you have completed the online transfer request from, we will post a copy of the offer out to your client. They will then need to sign and return the acceptance form within 14 calendar days.
You can get a copy of the offer within ‘Case documents’ on the portal.
If you cannot continue on the portal and have completed the Online product transfer form, our Admin team will produce the offer and send it to your client. If you need a copy of the offer, call our Variations team on 0345 166 9267.
Portal cancellation policy
Once we’ve agreed to transfer the product on the portal:
- Your client will have a 14-day cooling off period. This is 14 calendar days from the date you requested the transfer or the amount of days up to the completion date, whichever is sooner.
- Your client cannot switch products between the agreement and completion date, unless rates reduce on a like-for-like residential product up to 14 calendar days before the completion date.
- Find out more about switching to a new rate based on the Mortgage Charter.
Online transfer request form cancellation policy
Once your client has returned the acceptance form to transfer the product:
- They cannot cancel the offer without incurring ERCs. These will be applied automatically at redemption.
- Your client cannot switch products between the agreement and completion date, unless rates reduce on a like-for-like residential product up to 14 calendar days before the completion date.
- Find out more about switching to a new rate based on the Mortgage Charter.
If they do not pay within 7 calendar days, we’ll try to contact them. If we cannot get in touch with them after 3 attempts, we’ll cancel the acceptance. You’ll then need to start the transfer process again.
Our product transfer range takes into account your client's mortgage balance compared to their property’s estimated value.
We calculate this using our house price index, which is recalculated every quarter. We use this valuation when assessing your client's eligibility for our products unless they request a revaluation. They can do this if their property's current value is different to the estimated valuation on our records.
We can withdraw products at any time and your client can only choose from the range available once we’ve confirmed their current valuation.
Getting a revaluation on the portal
You can challenge the valuation on the portal by:
- selecting 'Yes' in the ‘Property and Loan’ section,
- going to the 'Current estimated value' field,
- entering the amount your client thinks their property is worth.
You may lose your product when you challenge the valuation. This is because the LTV might not match or the product may no longer be on sale.
Your client will need to pay a £70 non-refundable fee when you submit the product transfer application form on the portal.
Getting a revaluation using the online transfer request form
If you’re using the online transfer request form, call our customer service team on 0345 1200 872 to ask for the valuation before you submit the form.
Receiving your valuation report
If there are no issues with your valuation report, you will receive a copy of the product transfer mortgage offer. You will need to provide acceptance of this offer by completing the offer acceptance form located above.
Although you may be able to view your valuation report on MSO as soon as it is returned to us, we would request that you do not contact us until a member of staff has had an opportunity to fully review the form. Once reviewed, we will be in touch to advise you of the next steps.
You can submit a product transfer request for your JBSP client by completing the Online product transfer form.
Lending criteria
Loan size
The minimum loan size is £3,000.
Your client can take more than one product to make up the loan, as long as it meets the product minimum loan size. See the individual product for details.
LTV limits
The maximum LTV following additional lending is 85% LTV. This is based on the total loan amount (existing borrowing plus additional lending).
Please note: where the total loan amount exceeds £1 million, the maximum is 75% LTV.