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Product Transfers

Approaching the end of a fixed-rate mortgage is always a tedious task, and that's why we've crafted a product transfer range designed to make switching a breeze. Find out everything you need to know about our product transfer below.

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Hassle free switching

Is your customer's fixed-rate mortgage coming to an end, or are they already on our Standard Variable Rate (SVR)? If they are already a Bluestone Mortgage customer, our switching process ensures a smooth and easy transition to an alternative rate for your client. With everything available online on our broker portal, you'll be able to complete the product transfer application journey within minutes and benefit from our fast processing speed. With no application fee, completion fee, and free standard legal work, you can help your client save some money and secure their switch 90 days before the fixed product period end date. Take a look at our product guide to explore our eligibility criteria and learn more about the range.

Switch today
Within 90 days of the rate expiry date
Already on our Standard Variable Rate
Not moving home or increasing mortgage balance
Not seeking to add or remove a borrower
Not in arrears at the point of application
Have not missed any payments within 12 months

How to switch…

1. We contact the customer

Your customer will be informed by us that they are coming to the end of their fixed-rate deal or are on our standard variable rate (SVR) via a letter.

2. Check customer eligibility

See if your customer(s) is eligible for the product transfer under our eligibility criteria above. You can also view the latest rates on our product transfer product guide linked above.

3. Submit an application

If your customer is eligible and interested in the product transfer, all you need to do is log into our broker portal and submit a short application form with basic information on your customer(s).

4. Application is processed

Since we’ve already processed your customer(s) case, this time, we just need to perform brief checks on the application. Then, we can show you suitable products, and all you have to do is choose the one that fits your customer(s) needs.

5. Customer like what they see?

If everything checks out, you’ll receive an offer from us. Your customer(s) have a 3-month window to review, sign, and send back that offer. In the event of a rate change, you’ll need to reapply to receive an updated offer.

6. The final phase

Once we’ve received the updated offer, we will process the change in the customer(s) account and send them a confirmation letter containing their new monthly payment.

Ready to start the switching process?
Switch today

Product Guide

View here

Information Sheet

View here

Frequently Asked Questions

Where can I find the product transfer rates and pricing structure?

You can find our product transfer rate and pricing structure here

Are my customer(s) eligible for a product transfer?

The customer(s)  will be eligible for a product transfer subject to them meeting the following criteria:

  • The customer(s) cannot be making any fundamental changes to their mortgage, such as increasing their balance, moving home or adding/removing a borrower
  • The customer(s) cannot be in arrears or have missed a payment in the last 12 months
  • The switch will not occur until the customer(s) fixed rate period has come to an end
When is the product transfer rate locked in?

The Product Transfer rate is locked in once we provide the ESIS documents to you on our broker portal.

What happens if rates decrease once I’ve locked a product transfer product in?

You will have to resubmit the product transfer application and select the new rate if the ESIS documents have already been provided.

What is the procuration fees & maximum broker fee for a product transfer?

The procuration fee we pay on a product transfer is 0.35%. The maximum broker fee is in line with our new business broker fee maximum, which is £2500.

How do I submit a product transfer application?

You will be able to submit an application for the product transfer through our broker portal. Once you log in you will see the product transfer section in the top right corner of the home page.

How far in advance should I submit my customer(s) application to ensure they don’t roll onto a standard variable rate?

You will be able to submit your application at any point within the last 3 months of the customer(s) current fixed rate. All documentation needs to be signed and returned to Bluestone 10 working days (at the latest) before the fixed rate has ended to guarantee the customer(s) will not revert to the standard variable rate. If possible, the application should be submitted as early as possible in that 3-month period.

When will my customer(s) receive confirmation they may be eligible for a product transfer?

Your customer(s) will receive a letter from us 3 months before their fixed rate is due to expire explaining that they could be eligible for a product transfer. Confirmation of eligibility will be confirmed on the application.

What documents do I need to provide?

If the customer(s) meets the eligibility criteria, they will not be required to provide any documentation.

Is there going to be a credit search / affordability assessment carried out?

Subject to the customer(s) meeting the eligibility criteria, there will not be a new credit search or affordability assessment carried out.

Will there be a valuation carried out?

Yes, an index valuation will be carried out to determine what product the customer(s) is eligible for. This is at no cost to the customer(s).

Who do I contact if I need support during a product transfer process?

Please get in touch with our broker support team on 0800 3681 833 and select option 4.

Are variable rate customer(s) eligible for a product transfer?

Yes, a variable rate customer(s) is eligible for a product transfer when the customer(s) is no longer subject to Early Repayment Charges.

Call us

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Mon-Fri 9:00am – 5:30am.
Calls may be recorded.

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