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Product Transfers

If your client’s fixed or discounted Hinckley & Rugby mortgage product is soon to mature, it’s quick and easy to arrange a new deal using our mortgage Product Transfer service.  All you need to do is have your client’s permission for us to discuss their personal details with you.

Our Product Transfer rates are tailored to your client, so you won’t be able to find them on any sourcing systems – you’ll need to speak to our Contract Variations team.  New deals are available three months before product maturity.

The benefits for you as a broker

  • A straightforward and hassle-free process
  • A procuration fee of 0.20% paid on Residential and Buy to Let product transfers
  • A mortgage offer within three working days of your request
  • Dedicated support to help you with your queries

The benefits for your client

  • No further credit checks on your client on a like-for-like product transfer
  • Usually, no affordability or income checks
  • No legal or valuation fees to pay
  • No new Direct Debits to set up
  • Your client can switch up to three months before the current deal ends and without an ERC

How it works

  1. Download the Third-Party Authority form and send it to your client for their signature.
  2. Once we receive the signed Third-Party Authority, we will send you details of the products available no earlier than three months prior to maturity, along with a ‘Product Transfer Illustration Request’ form and a ‘Mortgage Intermediary Declaration – Product Transfer’ form. If your clients have any queries about their product transfer, it’s important that they speak to you directly rather than call us.
  3. To request a mortgage illustration, send the completed ‘Product Transfer Illustration Request’ form to us. We will complete the request within three working days, and the illustration will be sent to you via Egress, our secure email service.
  4. Once you have provided your advice and recommendation, please request a Product Transfer Offer using the ‘Mortgage Intermediary Declaration – Product Transfer’ form and we will produce the Product Transfer Offer via email, which again will be sent via Egress.
  5. Within the Product Transfer Offer there will be an acceptance slip for your client to sign. This will need to be returned to us via email.
  6. The product transfer will be processed on either the maturity of the existing mortgage deal or up to three months early if selected by the customer.
  7. The procuration fee will be paid electronically around the 15th day of the month following the product switch.

Get in touch

You can contact our Contract Variations team on 01455 894739. Our phone lines are open Monday – Friday 9am – 5pm. We are closed on Saturdays, Sundays and bank holidays. Alternatively, you can also email contractvariations@hrbs.co.uk.