INTERMEDIARIES
Simple, fast Product Transfers
Hassle-free Product Transfers that remove the complexity for your Buy-to-Let customers and can save them money.
Apply in minutes
Reduced fees
Transfer alerts
Our Product Transfers are for pound-for-pound refinances only. For any element of capital raising we will currently require a new application. Please speak to your BDM for more information.
All that’s needed for Buy-to-Let Product Transfer
The Mortgage Account number (8 digit number provided directly to the applicant(s), so you will need to contact them). This will differ to the original application number
The highest tax band across all applicants (for Private Individual applicants)
The estimated value of the property, the monthly rental amount, and the current EPC rating
The security’s postcode and at least one borrower’s name
The length of the desired mortgage term
If the borrower is a portfolio landlord and something has changed since the original application, an updated portfolio
All that’s needed for Residential Product Transfer
The Mortgage Account number (8 digit number provided directly to the applicant(s), so you will need to contact them). This will differ to the original application number
The security's postcode and at least one borrower's name
How it works
Navigate our mortgage products, submit your applications, and manage your active deals. Every step is simple in the Mortgages Portal.
FAQs
What are the benefits of a Product Transfer?
A Product Transfer is more efficient than commencing a new application. You and your customers could also benefit from product incentives and the support of a dedicated Product Transfer team to ensure a smooth and streamlined process.
How will I know when my client is eligible?
Your clients with mortgage accounts that are coming to their initial term maturity, or have matured and may be eligible for Product Transfers will appear on your Completed tab when you log in to the Mortgages Portal.
We will email you and your customer as they approach the end of their current fixed term. These emails will commence three months before the end of the current fixed period. If you haven’t received an email but believe your client is eligible, then you can still review it in our Mortgages Portal.
We will email you and your customer as they approach the end of their current fixed term. These emails will commence three months before the end of the current fixed period. If you haven’t received an email but believe your client is eligible, then you can still review it in our Mortgages Portal.
What Product Transfer products are available?
Available products are detailed here and can be modelled in our product calculators. At the end of the Product Transfer application process in the Mortgages Portal you will be able to select eligible products.
Will there be a legal process?
No, there is no need to carry out a legal process on product transfers. As such, there are no legal fees.
When will the Product Transfer complete?
Once your client's application has been approved and offered, the product transfer will automatically complete. This will occur either on the expiry date of the existing product or, if the existing product has already expired, shortly after your application is approved.
You will be notified by email once completion has taken place. If your client does not wish to proceed with the new product you must contact us as soon as possible. If you do not, and the product transfer is completed, your client may incur charges if they decide to withdraw.
You will be notified by email once completion has taken place. If your client does not wish to proceed with the new product you must contact us as soon as possible. If you do not, and the product transfer is completed, your client may incur charges if they decide to withdraw.
Will you carry out any new affordability, stress tests or credit checks?
No.
The applicant already has a LendInvest mortgage. We will conduct some basic account conduct checks, ensuring that their mortgage payments are up to date without account arrears, stress tests or credit searches. We will conduct nominal affordability checks as detailed on our Product Transfer Guide to ensure that the product remains affordable. For Buy-to-Let Product Transfers we will do basic conduct checks on accounts with other lenders, and this will determine the tier available for your client.
The applicant already has a LendInvest mortgage. We will conduct some basic account conduct checks, ensuring that their mortgage payments are up to date without account arrears, stress tests or credit searches. We will conduct nominal affordability checks as detailed on our Product Transfer Guide to ensure that the product remains affordable. For Buy-to-Let Product Transfers we will do basic conduct checks on accounts with other lenders, and this will determine the tier available for your client.
Will you carry out a physical valuation of my client’s property?
For Buy-to-Let applications, if we can verify the estimated valuation using an Automated Valuation Model (AVM), we will not conduct a physical valuation of the client’s property. If your client disagrees with the AVM amount, they will have the option to pay for a physical valuation.
For Residential applications, we will proceed using the original valuation on file. Please contact us to discuss if your client believes there could be a chance in LTV due to increased valuation.
For Residential applications, we will proceed using the original valuation on file. Please contact us to discuss if your client believes there could be a chance in LTV due to increased valuation.
Can I do a Product Transfer if I wasn’t the original broker?
Yes. Our model is designed to support brokers as the preferred route to doing business with us. We always encourage customers to contact their broker to complete the Product Transfer. This includes if the customers have changed brokers.
However, if an existing Buy to Let customer is eligible, and their loan has reverted following initial rate expiry we may be able to complete the Product Transfer with them directly.
Residential customers will still need to apply for their Product Transfer through a qualified broker. This does not need to be the original broker from the case if they would prefer to change
However, if an existing Buy to Let customer is eligible, and their loan has reverted following initial rate expiry we may be able to complete the Product Transfer with them directly.
Residential customers will still need to apply for their Product Transfer through a qualified broker. This does not need to be the original broker from the case if they would prefer to change
Can clients come directly to you as the borrower or do they have to go through a broker?
We now allow for borrowers to contact us directly for Buy to Let Product Transfers. They can still use a broker, and the broker can be different from their original broker.
How far in advance can my client apply for a Product Transfer?
They can apply up to 3 months in advance.
Who can transfer and when?
Buy-to-Let or Residential clients that are coming to the end of a fixed-term loan with LendInvest Mortgages, where their mortgage payments are up to date. They can begin the product transfer process at any time. Completion before the reversion date may be subject to ERCs.
What are the packaging requirements?
For residential and Buy to Let applications:
• Mortgage Account number (contained on your client's mortgage letters and statements)
• The security's postcode and at least one client's name
For Buy to Let applications we also need:
• The highest tax band of the applicants
• Updated estimate of security value (and if your client is Buy-to-Let client, current rental income and EPC)
• Mortgage Term your client would like after the product transfer is complete
• If your borrower is a portfolio landlord we will need updated portfolio information if there have been any changes since the previous application
• Mortgage Account number (contained on your client's mortgage letters and statements)
• The security's postcode and at least one client's name
For Buy to Let applications we also need:
• The highest tax band of the applicants
• Updated estimate of security value (and if your client is Buy-to-Let client, current rental income and EPC)
• Mortgage Term your client would like after the product transfer is complete
• If your borrower is a portfolio landlord we will need updated portfolio information if there have been any changes since the previous application
Will my client definitely be approved for a Product Transfer?
Each application will be assessed on a case-by-case basis against our current Product Transfer lending criteria.
What scenarios would not be considered a Product Transfer?
Product Transfers should be a renewal of the existing loan.
Product Transfers are not available in the following scenarios:
• Capital raising
• Change of property use since the original application completed
• A Transfer of Equity has occurred
• An applicant is being added or taken off - it must remain the same as the original application
If these are applicable to your client, please submit a new application in the Mortgages Portal, and not a Product Transfer.
Product Transfers are not available in the following scenarios:
• Capital raising
• Change of property use since the original application completed
• A Transfer of Equity has occurred
• An applicant is being added or taken off - it must remain the same as the original application
If these are applicable to your client, please submit a new application in the Mortgages Portal, and not a Product Transfer.
What procuration fee will I receive on a Product Transfer mortgage application?
You will receive a procuration fee in line with your arrangement with LendInvest Mortgages. This fee is typically half of a non-Product Transfer application.
Will I be able to select a Mortgage Club or Network as my payment route?
Yes, you can select this within the Product Transfer application.
Can I complete a Product Transfer mortgage application for a LendInvest customer that I didn’t originally introduce to you?
Yes, you can. The same instructions and process applies.