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Product transfers
Via brokers: benefits for your clients

Why stay with Nottingham Building Society?

Our deals are competitive, so your clients can save time and money by transferring to a new mortgage with us instead of moving to another provider.

Key benefits for existing borrowers:

  • If the property value hasn't changed, you can move to a new mortgage without a valuation, solicitor, credit checks or new direct debit.
  • Lock into our lowest mortgage rates – our 'thank you' for their loyalty.
  • Exclusive offers and rewards.
  • Hassle-free.

How it works

We send customers a maturity letter four months before the fixed rate or discount product matures. This includes a unique identifier code and a cut-off date for the broker requesting the transfer.

Submit a transfer 

Log in to your account and submit: 

  1. The unique identifier code (provided in the letter). 
  2. The mortgage account number. 
  3. The property postcode. 

From here, the process is completely digital. You can view your client's mortgage info and eligible products. This makes it easy to discuss their transfer options. 

Once they've decided, complete the product transfer via your account. The transfer takes place when their existing product matures. Any fees can be paid directly or using a secure link sent to your client. 

You can use our online transfer service when: 

  • applicants have received a maturity letter from us with a unique verification code, which they must pass on to you.
  • they don't need to borrow more funds or make any material changes to their mortgage.
  • they don't have more than one part of their mortgage.
  • mortgage payments are made by direct debit.
  • there are no arrears on the mortgage.

Ask your client to contact us directly on 0344 481 4444 (option 2) if they: 

  • currently have an ERC and want to switch before their current product matures.
  • have less than 22 days until their existing product matures.
  • want to change the term of their mortgage.
  • want to change the repayment method.
  • want us to revalue their property.
  • want to do a transfer of equity.
  • don't pay by direct debit.
  • are already on our SVR.
  • are in arrears currently.
  • want to borrow more.

More information: 

We offer property valuations at £36 for an automated valuation model (AVM) or £75 for a re-inspection. 

  • Once a product transfer has been submitted, the product is secured.
    • If the borrowers want to cancel the transfer before the transfer date, they must write to us five working days before the transfer date.
  • Brokers cannot arrange a product transfer for borrowers with less than 22 days until their existing product matures.
  • You must be registered on our broker portal. 

Here to help

For more help, call our intermediary enquiry line on 0344 481 0029 (option 2) or email mortgage.desk@thenottingham.com. 

Procurement fees

On completion, a broker fee will be payable of: 

  • 0.35% on limited company BTL and retirement interest-only products.
  • 0.30% on buy-to-let mortgages.
  • 0.30% on residential mortgages.

Frequently asked questions

How do I know if I can transfer my client's product?

Customers are eligible for a product transfer via a broker, except in complex cases. These are cases where an online-only solution isn't suitable or we need more info to advise your client.

This could include: 

  • customers with different elements to their mortgage with ERCs.
  • inactive mortgages or certain arrears cases.
  • pending 'consent to let' applications.
  • financial crime concerns.

If you can't transfer on their behalf, they won't get this option on their retention letter. They also won't receive a broker validation code (the unique identifier code mentioned above). 

How will my client know I can make a product transfer for them?

Eligible customers will get a retention letter. This includes explaining the product transfer via the broker process. It also includes the unique identifier code needed to access their account details on our broker portal.

Does my client need to do anything?

Your client must provide you with three things:

  • The unique identifier code in their retention letter.
  • Their mortgage account number.
  • The property postcode.
When will the product transfer take effect?

For maturing fixed-rate products, the transfer takes effect on the first day of the following month after maturity. For maturing discount products, the transfer takes effect the day after the existing product matures. Two weeks before the transfer, we'll send a letter to your client to confirm their new mortgage payment. You'll then get an email when the transfer is complete.

When will the procuration fee be paid?

Once the transfer is complete, you'll receive an email, and the fee will be paid within two weeks.

What happens if I miss the broker cut-off date?

After the broker cut-off date, you can't request a transfer on their behalf. Their retention letter will detail options for requesting a transfer.

I'm having problems progressing with the transfer; who should I contact?

If you're having problems with the system or have any other questions, contact our intermediary enquiry line on 0344 481 0029 (option 2).

What are the fees if the client requests a new valuation?
  • £36 for an automated valuation.
  • £75 for a retention re-valuation.

Your client must come to us directly for a new property valuation.