A product transfer is a new rate with your existing lender when your current deal ends. It's usually quicker and simpler than a remortgage: often no valuation, no legal work and, unless you're changing your term or borrowing more, no affordability or credit check. We compare your lender's offer with the whole market, and there's no fee from us for a product transfer.
Arranging a product transfer often takes just a few days. If you're already on your lender's standard variable rate, you can usually switch to a new deal at any time, with no early repayment charge.
Most lenders write to you a few months before your deal ends, with the rates they can offer you.
We check your lender's product transfer rates and the rest of the market side by side, so you know whether staying is genuinely the best option.
If staying is right, we arrange the new rate with your lender for you. There's usually no valuation, no solicitor and very little paperwork.
Timing it this way means you avoid early repayment charges and never pay the lender's standard variable rate.
Most lenders let you secure a new deal three to six months before your current one ends. We recommend starting then: you can lock in a rate, and if rates fall before your deal ends, it's often possible to switch to a better one.
When a deal ends, most lenders move you onto their standard variable rate (SVR) automatically. As an illustration, on a £180,000 mortgage with 20 years left:
These rates are for illustration only and are not current offers.
A product transfer is usually the simplest choice when your lender's new rate is competitive. A remortgage to a new lender can be better when rates elsewhere are lower, or when you want to borrow more or change your mortgage. We look at both for you. See the full side-by-side comparison on our remortgage page.
Most lenders let you choose a new rate yourself online. That's quick, but you'll only see that lender's own rates.
When we arrange your product transfer, you get advice. We check:
There's no fee from us for a product transfer. Like most brokers, we're paid a commission by the lender instead. It doesn't change your rate. See our fees in full.
Lenders often offer two versions of a deal: a lower rate with a product fee, or a slightly higher rate with no fee. Which is cheaper depends on your balance and how long the deal lasts.
An example: a £180,000 mortgage with 20 years left, on a two-year fixed rate:
Deal A's lower rate saves about £29 a month (about £695 over two years), but that's less than its £999 fee. The no-fee deal is cheaper by about £300, despite the higher rate. On a larger mortgage the answer can flip, which is why we work it out for your actual balance.
Illustration only. Adding a fee to your mortgage instead of paying it upfront means you also pay interest on it.
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Because lenders don't reassess affordability or run a credit check on a product transfer unless you change your term or borrow more, staying put can be the simplest option if your circumstances have changed since you took the mortgage out, for example if:
In any of these cases, a new lender might be harder to pass, so a product transfer can protect your access to a competitive rate. Read more about self-employed mortgages and mortgages with bad credit.
Not unless you're making a material change to your mortgage, such as changing the term or borrowing more. If you're simply moving to a new rate, lenders don't reassess affordability or run a credit check.
A product transfer is a new rate on what you already owe. If you want to borrow more, for home improvements for example, that's a separate application with your lender, called a further advance, and it does involve an affordability check. Changing your mortgage term is also a material change, so the lender will reassess affordability and may run a credit check. Sometimes a remortgage to a new lender is the better route for borrowing more; we'll compare both.
Not as part of the product transfer itself. Borrowing more is a separate application with your lender, called a further advance, which includes an affordability check. We'll compare it with remortgaging to a new lender.
Our advisers are based at Beehive Works in Sheffield. You can see us in person, speak by phone or meet by video, whichever suits you. Product transfer advice is given by our qualified team, including Robert Wilson-Rust (Senior Mortgage and Protection Adviser), and Tiffany Taylor and Katie Stoker (Mortgage and Protection Advisers), all CeMAP qualified.
Reviewed by Zoe White CeMAP, Compliance Officer, Friends Capital. Last reviewed October 2026.
Our expert advisers are ready to help you find a better deal, release equity, or switch to a mortgage that better suits your current needs.
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Wondering what we charge? There's no fee from us for a product transfer, and your initial consultations are free. See our fees in full.