Product switch FAQs

How far in advance can I apply to switch the product?
You can secure a product up to four months before the end of your client’s current deal.

When will the product switch take place?
The switch will take effect from the first of the month after the end of their current deal.

Will the request secure the mortgage product?
The product will be secured when you’ve completed the 'Instruction to process switch' form.

My client has less than two years left of their mortgage term, at the end of their current deal, can I choose a new product?
If there’s less than two years left, they’re unable to choose a new fixed product.

Their mortgage rate will revert to the standard variable rate (SVR) or SVR with a potential reduction depending on their loan to value at the time. Click here for more information about how we calculate your client’s interest rate when their mortgage offer period ends.

Can I submit a product switch for a client with a sub-account?
Yes, you can submit a product switch using the illustration request form, providing it still meets the criteria for a product switch. For example, the sub-account is on our standard variable rate or the date the current deal ends is consistent with the main mortgage account. However, we’re not able to accept these using the Product Switch portal

What happens if I submit a request and my client changes their mind?
As long as we’re notified before the date of the switch, we can remove your previous instructions.

What if my client doesn’t agree with the valuation?
The applicant can pay £12 for an automated valuation and £108 for a re-valuation if they don't agree with the original valuation. Please contact our Intermediary Sale and Support Team for further details on this.

My client’s current mortgage is interest only. Will you honour the original policy or will they need to meet the new policy?
We’ll honour cases based on the existing policy.

What does my client need to do?
They’ll need to provide you with their personal details including their address, the sort code and last four digits of the bank or building society account their mortgage is paid from.

How will I see the products that are available?
You can find the products on your mortgage sourcing systems, or check out our product switcher range.

Can a further advance combined with a product switch complete before the switch takes place?
Yes, the further advance will progress separately to the product switch. When the further advance offer has been issued, funds can be released as soon as the offer has been accepted or when a solicitor requests the funds where a certificate of title is applicable to the application.

If the product switch has taken place and the further advance is later declined, will my client incur Early Repayment Charges if they want to redeem and remortgage to find the additional borrowing required?
Yes, when the product switch has taken place, any Early Repayment Charges will be applied if they choose to redeem.

Can I send the completed further advance application forms, mortgage review forms and supporting documents securely?
Yes, you must send all customer information to us by secure email. If you’re not already registered, you’ll need to send us a request.

Will I be paid a procuration fee for a product switch?
Yes, we pay a procuration fee of 0.20% for a product switch. The fee is based on the balance of the mortgage being switched and will be paid in the month following the end of their current deal. If you’re submitting a product switch for a customer who has more than one sub-account, the procuration fee will be paid on the balance of the sub-account being switched at the time and not on the whole balance of the mortgage.

Who should I contact if I have any questions?
Please contact our Intermediary Sales and Support team by either emailing us at ist@westbrom.co.uk or calling us on 0345 241 3597.

What products can I choose from if my client is looking to switch with a further advance?
If your client is looking to request a product switch with a further advance, you can only select a product from our switcher range.