Mortgage guide
What is a mortgage product transfer?
A mortgage product transfer means moving onto a new mortgage deal with your existing lender, without changing lender. It can be a simpler alternative to remortgaging, but it should still be compared against the wider market where appropriate.
The basics
You stay with the same lender but move onto a different deal.
The FCA defines an internal product transfer as a borrower moving to another mortgage product with the same lender, without additional borrowing other than certain fees added to the loan.
MoneyHelper describes this as choosing a new deal with your existing provider rather than moving the mortgage to a different lender.
The mortgage account remains with the same lender, but the interest rate, deal period or other product terms can change.
Product transfer vs remortgage
The main difference is whether you change lender.
Product transfer
You stay with your current lender and select a new mortgage product from that lender's available range.
Remortgage
You move the mortgage to a new lender, which normally means a new application, underwriting and legal process.
A product transfer can sometimes be simpler because there is no new lender taking over the mortgage. A remortgage can potentially widen the range of products available, but may involve more checks, costs and administration.
Affordability & checks
A straightforward product transfer can involve fewer checks than a remortgage.
MoneyHelper notes that an existing lender may be able to offer a new deal without a fresh affordability assessment where the borrower is not increasing the amount borrowed, although the exact process depends on the circumstances and lender.
If you want to borrow more, change the mortgage materially or make other changes, additional underwriting may be required.
The lender still decides which products you are eligible for under its criteria and mortgage terms.
When to review
Many lenders allow you to secure a new deal before the current one ends.
MoneyHelper says borrowers on fixed deals will often be able to look at product-transfer options in the final months of the existing deal, commonly up to around six months before expiry.
This can help avoid falling onto the lender's reversion or Standard Variable Rate when the existing deal ends.
If better rates become available before the new product starts, some lenders may let you switch again, but the position varies by lender and product.
Costs
A product transfer can still have fees.
Product fee
The new deal may include an arrangement or product fee.
Early repayment charge
If you switch before the existing deal period ends, an ERC may apply depending on the mortgage terms.
Legal costs
These are often lower or absent compared with changing lender, but the exact process depends on the lender.
Valuation
Some product transfers may not require a fresh valuation, but lenders can use their own valuation methodology where relevant.
Making the decision
Compare convenience with the wider market.
Staying with the existing lender can be attractive because the process may be simpler and faster. But convenience should not be the only factor.
Rate
How does the existing lender's product compare with suitable alternatives?
Fees
Compare the full cost, including any product fee or ERC.
Flexibility
Check overpayment limits, portability and other mortgage features.
Your future plans
Moving home, borrowing more or changing repayment structure can affect which route makes sense.
The useful comparison is the overall cost and suitability of staying with your current lender versus moving to a new one.
Mortgage advice
Existing deal coming to an end?
We can compare your current lender's product-transfer options with suitable remortgage alternatives, taking account of rates, fees, early repayment charges and your plans.
Book a conversationThis guide is for general information only and is not personal mortgage or financial advice. Mortgage rates, lender criteria and product-transfer processes can change. Your home may be repossessed if you do not keep up repayments on your mortgage. Content checked against current FCA and MoneyHelper guidance on 16 September 2026.