Product transfer

We now have an online application form that you can complete, designed solely for intermediaries.

There are two ways you can apply for the transfer on behalf of your residential or buy to let client.

  1. Use our Online Product Transfer Application Form, generally if it’s just a like-for-like transfer your client wants to make. Please print each individual page of the application before moving to the next section.
  2. Use our Postal Product Transfer Application Form and supporting Income & Expenditure form, for cases where we need to assess affordability. These include Residential customers
    • that want to change their term where their monthly payment increases by more than £5.00, or
    • where the mortgage term exceeds the customer’s anticipated retirement age

Your client can apply to transfer their mortgage product up to 4 months prior to the date of maturity, allowing it to complete when your clients current deal ends, subject to eligibility, which is detailed below.

To view the current rates and supporting product criteria for residential and BTL product transfers, click on the links below.

Latest Residential Product Transfer Guide

Latest Buy to Let Product Transfer Guide

Platform will pay the introducer a procuration fee of 0.3% on all product transfers.

Should you wish to apply for a product transfer on behalf of your clients you will need to ensure that you are registered with Platform at the time of application and on the product transfer date.

If you require any assistance with registration or the product transfer process you can call our broker mortgage desk directly on 0345 070 1999 (Lines are open Monday Friday 09.00am 5.00pm and Thursday 10.00am 5.00pm).

Please note that we are unable to provide Intermediaries with confidential account information required to complete the application form, however your client can call us directly and details can be found on our public site.

Eligibility

Your client must meet our eligibility requirements so please check the following are met:

  • Your client can pass an affordability check if required
  • The mortgage property is still your clients main residence (not applicable for Buy to Let)
  • Your client is not in arrears

If any of the following apply you should not continue. Please advise your client to contact us directly on 01752 236550 where we can help with their request.

  • Your client wishes to change the repayment method
  • Your client holds multiple mortgage sub-accounts i.e. your client has previously borrowed additional funds on top of their original Platform mortgage
  • Your client wishes to move properties at the same time as switching products
  • Your client wishes to add or move a party to the mortgage at the same time as switching products
  • The remaining term is less than the product term
  • Your client requires any additional borrowing
  • Your client wishes to make a capital reduction
  • Your client has an interest only mortgage and wants to extend their term

Proof of income

No evidence of rental or personal income is required for Buy to Let (BTL) or like-for-like residential Product Transfer applications.

For advised Mainstream Product Switch Applications, proof of income documentation is only required if your client wants to change term alongside their Product Transfer and their monthly payment increases or the mortgage term exceeds the customer's anticipated retirement age.

If Proof of Income is required, the documents for submission are detailed below. If the application is "Joint" then both applicants must provide Proof of Income if it is required.

Employed Applicants

The latest 1 months computerised pay slips. Hand written documents will not be accepted.

OR

An employers reference (must be provided if the borrowers are paid in cash)

PLUS your client’s personal bank statement for the latest full month showing the latest salary credit and household expenditure.

Self Employed Applicants

1 years tax assessments (SA302) (Hard copy or selfservice version) AND Tax Year Overview

OR

Certificate from a suitably qualified accountant with one years figures

PLUS your client’s personal bank statement for the latest full month showing the latest salary/income credit and household expenditure

Property valuation

We will use the last valuation that we hold on record for your clients mortgage. A re-valuation for a Platform Product Transfer is free. However, if a new re-valuation is selected and your client’s LTV already meets 60% LTV or less, a revaluation fee will be charged. Please refer to our product guides at the top of this page.

Next steps

Check you are registered with Platform and choose the correct application submission route.

  1. Click here to launch the Online Product Transfer Application form, once fully completed press submit. Please print each individual page of the application before moving to the next section.
  2. Click here to launch the Postal Product Transfer Application form
  • Complete the details within the editable PDF and print it off.
  • Complete the income and expenditure form for affordability checks if required and print.
  • Ensure you have collated the proof of income requirements from your client.
  • Attach a cheque for the product fee (if applicable), made payable to Platform (please write the mortgage number on the reverse of the cheque). Alternatively we will call your client prior to the transfer date to take a card payment.
  • Post all documents to the address below:

PO Box 3462
Cheadle Road
Leek
Staffordshire
ST13 9BG

Once Your Application Has Been Submitted

Once we have received the completed application form, and a current valuation if required, we will send your client a copy of your application, a mortgage ESIS illustration and offer document to sign and return to us. You will also receive a copy of the offer for your records.

If your client has not paid a product fee by cheque we will request a card payment on receipt of the application or least 2 days before the transfer date.

When all the relevant documents are received and fees paid, we will transfer your client to the new product unless we hear otherwise.

Once the transfer is complete your procurement fee will be paid through your chosen submission route.

All loans are subject to status and applicants must be aged 18 years or over.

Latest Residential Product Transfer Guide

Latest Buy to Let Product Transfer Guide

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE