Improved eligibility criteria for product transfers
We’ve made some improvements to the eligibility criteria for our online product transfer service so that more of your clients are eligible to use the tool.
Product transfer eligibility improvements:
- Mortgage accounts where the outstanding balance is at least £1,000 will be eligible (previously all loan parts had to have a balance of £1,500 or more)
- Loan parts with terms of at least 2 years 6 months will be eligible (previously all loan parts had to have remaining terms at least 5yrs 6 months).
As a result of these improvements we’ve been able to enhance our functionality so that your clients will now only be shown products they are eligible for based on the term remaining.
We’ve also added promotional messages in Introducer Internet to highlight that if your client's new rate is lower than their existing rate, they can switch early, so the new rate will start straight away, saving them money sooner.