Shawbrook has some great news for you…they are launching Product Transfer!
Last summer we launched our ‘Switch & Fix’ proposition to support existing customers looking to refinance to a new fixed rate loan. This proved to be a huge success for your clients, reducing both the time and costs involved with securing a new fixed rate with us. But Switch & Fix was only the beginning…
Our new Product Transfer process removes the requirement to refinance to a new loan and enables you to secure a new fixed rate product for your client on their existing loan account. This transforms the existing customer experience, removes the underwriting historically involved with this process, and in just 4 easy steps, your clients can seamlessly secure a new fixed rate with us.
The benefits: simple & fast
- No underwriting needed
- No legal or valuation fees
- No refinance to a new loan – simply select a new fixed rate product on the existing mortgage
- Available on our Buy-to-Let and Commercial mortgages
Is my client eligible?
To be eligible for Product Transfers, your client must meet the below criteria:
- No changes to contractual terms on their mortgage
- Must not have missed any Shawbrook mortgage payments in the last 12 months
- No additional borrowing (we continue to support capital raising on a Shawbrook Refinance)
Our Product Transfer rate guide provides a single document to select a new fixed rate product and rate for your client, including our Product Transfer exclusive Buy-to-Let product.
Please ensure that you’re aware of the date your client’s fixed rate comes to an end to avoid them transferring onto the variable rate.
Product Transfer or Shawbrook Refinance?
Is your client looking to secure a new fixed rate with us but would also like to raise additional capital or amend the contractual mortgage terms?
Our Shawbrook Refinance offering would be the option for them as it allows changes to be made to the mortgage.
Our Broker Guidance document, which is available to download below, includes an easy reference guide to help you select the right product for your client.
Strategic Partners will receive 0.75% commission for Product Transfer or Shawbrook Refinance deals that complete with us.
The documents you need
Product Transfer Rates – BTL & Commercial
Product Transfer & Shawbrook Refinance Lending Criteria
Start the Product Transfer process today by emailing us at producttransfer@shawbrook.co.
- Original application number or customer number and security address
- Fixed term and product requested for the application