This is the process by which an existing Bluestone customer with an active mortgage loan chooses to switch from their current mortgage product (when their current fixed mortgage term comes to an end) to a different one offered by the same lender without moving their mortgage to a different lender. This should be considered as product transfers as you can move onto a lower rate, and there it is generally a more simplified approval process by staying with your current lender. This can save time and reduce administrative hassles.

You will be able to choose between fixed and variable-rate products. The fixed products will be 2 year, 3 year and 5 year products.

You will need to get in contact with a mortgage broker to process the product transfer application to Bluestone. Once the application is submitted to us, we will carry out some basic checks and offer you a selection of products available. All you will need to do is confirm which new interest rate you wish to proceed with, and we will then process the change. 

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

If you are on the reversion rate at the moment, your rate will be changed after 10 working days once the signed offer is submitted.

If you meet the eligibility criteria, you will not be required to provide any documentation.

Please contact your broker for any support related to the product transfer process. They will be able to talk you through the process.