Product Transfers

Questions and Answers

Where do I go to produce a product transfer KFI?

After logging in, you should select the ‘Key Facts Illustrations’ option at the top of the left-hand menu, where you’ll be given the option of creating either a new lending or product transfer KFI.

You’ll also be able to see a list of all KFIs produced previously, as well as any product transfer offers.

Where do I go to produce a product transfer offer?

After logging in, you should select ‘Request product transfer‘ at the bottom of the left-hand menu. This will begin the product transfer application.

I’m not able to proceed online; can you tell me why that is?

Our online process carries out a number of checks on an account to ensure that it’s eligible for a product transfer and that it can be done online.

The vast majority of accounts pass these checks, but a small number won’t. That doesn’t mean that you can’t do a product transfer, but it requires a manual check by one of our team. You’ll need to download and complete the application form.

How do I download or print documents for my client?

All documents such as the mortgage offer, IDD or terms & conditions can be downloaded, either before the client’s acceptance is submitted, or from the confirmation page immediately after acceptance.

If you don’t download the offer document from either of these places, it’s also stored within the ‘Key Facts Illustrations’ page and is held in our database.

I chose the ‘delay’ option, but section 8 of the offer is still showing the ERCs, is this correct?

Yes. From a regulatory perspective, we need to show that ERCs will apply if a transfer takes place before the maturity date, even though you has told us (and we know) that your clients want to delay.

In section 10, the offer outlines that there are two options; pay the ERCs or delay. The offer will state in bold that your clients have indicated they wish to delay.

Where does my client need to sign?

They don’t! Our new online process means that once you hit the submit button at the end of the application, the transfer has been legally accepted and we’ll begin processing the transfer.

This means your client no longer has to wait for the documents to sign and return.

Can I retrieve an offer at a later date to accept it or does my client need to accept the offer there-and-then?

If you don’t accept the offer at the point it is created, you’re unable to go back and accept it at a later time, for example, if you’ve posted it for approval to client.

You’ll need to log back into your client’s application when they’re are happy to accept, create a new offer (subject to the product still being available) and then accept. Because of the simplicity of the process, this should take less than 5 minutes.

How does my client pay any fees?

Any outstanding fees can be paid via the phone using our secure processes.

If any fees are payable, this needs to be done within 7 days of the acceptance being submitted. If you don’t pay within 7 days, the acceptance will be cancelled and you’ll need to start again.

When will the new product start?

If you’ve selected to ‘switch immediately’ the transfer will be dated to the date of the online acceptance.

If you selected to ‘delay‘, the transfer will take place immediately after the current mortgage product expires.

Can you tell me if I selected the ‘delay’ option?

Our online application will tell you in a number of places what option you’ve selected as you progress through it.

You can also refer to the mortgage offer, which is available in the Key Facts Illustration section.

Will I receive any confirmation of the request?

Immediately after submitting the acceptance, we present you with a confirmation page which contains both a summary of the transfer you’ve just completed, plus the opportunity to download the documents.

We’ll send a confirmation email to your clients to confirm the transfer.

Outside of this, we don’t proactively contact you again, apart from to pay the proc fee.