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A product transfer in Durham allows you to switch to a new mortgage deal with your existing lender, rather than remortgaging with a different provider.
When your current mortgage deal is about to end, your lender may offer a range of new mortgage products to choose from.
This process is often quicker and easier than switching lenders, as it doesn’t typically require affordability checks, legal work, or property valuations.
A product transfer in Durham works by allowing you to move onto a new deal offered by your current lender, ensuring you avoid being placed on their standard variable rate (SVR), which is usually higher.
Your lender will present a selection of new mortgage rates, and you can choose one that best suits your financial situation.
Since you are staying with the same lender, the process is usually straightforward, and in many cases, it can be completed in just a few days.
While a product transfer in Durham can be convenient, it’s important to check whether it’s the best financial option for you.
Your lender will only offer their own mortgage products, meaning you might find a more competitive deal by remortgaging with a different provider.
A mortgage broker in Durham like us will compare your lender’s product transfer rates against the wider market to ensure you’re not missing out on a better deal elsewhere.
Yes, a product transfer in Durham allows you to move onto a new deal with your current lender, which can help you secure a lower interest rate.
However, it’s always worth comparing your lender’s offers against remortgage deals from other lenders to ensure you’re getting the best option for your circumstances.
A product transfer can save you money on legal and valuation fees, making it a cost-effective choice in some cases.
However, the interest rates offered may not be as competitive as those available through remortgaging.
Seeking mortgage advice in Durham can help you determine whether a product transfer or remortgage is the better option.
Most lenders do not require a credit check for a product transfer in Durham, as you are staying with the same provider.
This makes it a great option for those whose financial situation has changed since their original mortgage application, as they may struggle to pass new affordability assessments required for a remortgage.
A product transfer in Durham is usually much faster than remortgaging, often taking just a few days to complete.
Since you are staying with the same lender and there is no need for legal work or a full mortgage application, the process is straightforward and hassle-free.
Some lenders allow you to change your mortgage term when completing a product transfer.
If you’re looking to extend or shorten your mortgage term, speaking with a mortgage broker in Durham like us can help you understand whether a product transfer is the right option or if remortgaging would offer more flexibility.
Lenders typically contact borrowers when their fixed or tracker mortgage deal is coming to an end, offering new product transfer options.
However, these may not always be the most competitive rates available.
Comparing your lender’s offers with other mortgage deals on the market ensures you’re making the best financial decision.
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5.00 Rating19 Reviews
Jenni
Malcolm and his team were nothing short if amazing helping guide us through somewhat tricky process of buying our home. They were friendly, patient and efficient and deserve more than a five star rating. Thank you again to Malcolm and his team.
2 months ago
Joanne
Malcom, was professional and helped sercure the best mortagage deal for us. We were apprehensive about using a mortage broker as we had never used this kind of service before, but Malcom and the team made it so easy from start to finish,friendly...
4 months ago
Fiona
Very good service from Dinah. Very helpful and no pressure sales. Felt confident I got the best advice for my circumstances.
6 months ago
Katie
We could not recommend UK money man enough for helping us obtain a mortgage. As first time buyers we went into the process clueless, Malcolm and the team have been absolutely amazing. Their communication and expertise has been second to none. The...
7 months ago
Mr Darren
An amazing service from some amazing people. They where with me from start to finish and the support, guidance and advice they gave me was brilliant. I would happily recomend Durhammoneyman. Thank you to all who where involved in my case.
9 months ago
Anonymous
Great service! Very informative and responsive. Made the process for a first time buyer straight forward and went smoothly
11 months ago
Duncan
Professional all the way. Excellent advice from Wayne followed by excellent administration by Anna to complete the transaction. Would recommend.
1 year ago
Martin
Excellent Staff and Service, I would definitely use them again They were very helpful all through the process of my remortgage providing me with the best deal and assisting with any issues or concerns i had, very prompt on replies to my calls and...
2 years ago
Kayleigh
Joe and Chloe have been so helpful sorting out our remortgage. They did all the hard work. I would highly recommend Durham Money Man to anyone! Fab job guys!
2 years ago
Karen
Was very professional and very helpful.
3 years ago
Anonymous
We are very pleased with the service we received. Everything was very simple and the mortgage brokers done everything for us. The mortgage deal they found was significantly less than any we could find ourselves, so it's worth paying the broker fee...
3 years ago
Niall
Fantastic service! Amazing advice and guidance throughout my mortgage application. Would recommend Durhammoneyman to anyone!
4 years ago
Sarah
Durhammoneyman have been an absolute lifesaver in helping me to get a mortgage. Their support, advice and assistance throughout the process has been above and beyond what I could have expected. Without them I would not have been able to navigate...
4 years ago
Donna
I cannot fault the service I have received from Leo, Wendy and the team. They have made a potentially stressful process very easy, offering support and guidance throughout. I would recommend this team to anyone in need of mortgage advice. Thank...
5 years ago
Sandra
Matt was first of all hugely understanding and quite reassuring in what I knew would prove a difficult task! Under 2 years self employment history, trying to gain a second family home without selling the first and possessing a buy to let which also...
5 years ago
Louis
I had a complex situation and I was nervous about the whole thing. Chris worked his magic and got me a mortgage offer within 2 weeks. I was amazed. Working full time I found the evening appointments terrific.
5 years ago
Michelle
Thank you to Laura and Matt who worked seamlessly to get my remortgage offered. I’m really happy with my new deal, much better rate than what my bank were offering.
5 years ago
Mary
My mortgage broker was easy to get hold of and efficient. Overall my experience was good value for money. As a first time buyer I felt I had support throughout my purchase.
5 years ago
Daniel
We rang these guys when we had been promised a mortgage by our Bank who then changed their minds. To be honest we didn’t know whether or not we’d be able to get a mortgage but during the first call with Durham Moneyman we felt they understood...
5 years ago
Book a free consultation to explore your options for a product transfer in Durham.
Our experts will assess your current mortgage and compare available deals.
We review your lender’s product transfer rates and compare them against remortgage deals from other providers.
This ensures you’re making the best financial decision.
Once you’ve chosen the right mortgage deal, we handle the entire process, ensuring everything is completed accurately.
If you’re staying with your current lender, the transfer can be completed quickly and with minimal paperwork.
After your product transfer is finalised, we guide you through the final steps, ensuring a smooth transition onto your new mortgage deal.
Our goal is to make the process hassle-free and ensure you’re on the best possible mortgage for your needs.
We offer a free, no-obligation appointment to discuss your options for a product transfer in Durham.
Our expert advisors will assess your situation and help you make an informed decision.
We don’t just check your lender’s product transfer rates - we compare thousands of mortgage products to ensure you’re not missing out on a better deal elsewhere.
Our dedicated team provides expert guidance throughout the process, ensuring you understand your options and helping you choose the best mortgage for your circumstances.
We know that finding time to review your mortgage can be difficult, which is why we’re available seven days a week.
Whether you need advice during the day, in the evening, or at the weekend, we’re here to help.
Many homeowners use a product transfer in Durham to switch from a variable or tracker mortgage to a fixed-rate deal, offering more financial stability.
A fixed-rate mortgage ensures your monthly repayments remain the same for a set period, protecting you from potential interest rate increases.
This is a great option if you want to budget with confidence and avoid fluctuations in your mortgage payments.
If mortgage rates have dropped since your last deal, a product transfer in Durham could help you secure a lower interest rate and reduce your monthly repayments.
By switching to a new product with a better rate, you could save money over the course of your mortgage term.
This can be especially useful if your financial circumstances have changed, making it important to keep payments as affordable as possible.
When your fixed or tracker mortgage deal ends, your lender will automatically place you onto their Standard Variable Rate (SVR), which is often much higher than the rates available on a new deal.
Completing a product transfer in Durham before your deal expires can help you avoid unnecessary increases in your monthly repayments.
This ensures you remain on a competitive rate without the hassle of switching to a new lender.
Some homeowners use a product transfer in Durham to adjust their mortgage term. If you want to extend your term, this could lower your monthly repayments, making them more manageable.
Alternatively, if you’re in a stronger financial position, you may want to shorten your mortgage term to pay off your loan faster and reduce the overall interest paid.
While not all lenders allow term adjustments during a product transfer, exploring your options could help you structure your mortgage in a way that better suits your needs.
While a product transfer in Durham is often the simplest way to switch to a new mortgage deal, it’s not always the best financial option.
In some cases, remortgaging with a different lender could offer better interest rates or more flexibility.
If you’re unsure whether to proceed with a product transfer or remortgage, speaking with a mortgage advisor in Durham can help you compare all available options, ensuring you make the best decision for your circumstances.
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Durhammoneyman.com & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Durhammoneyman 2025.
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Durhammoneyman.com & Durhammoneyman are trading styles of UK Moneyman Limited, which is authorised and regulated by the Financial Conduct Authority.
UK Moneyman Limited is Registered in England, No. 6789312 | Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© Durhammoneyman 2025.
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