Online product transfers
Most product transfers can be submitted online up to 180 days in advance using our Mortgage Sales and Origination system (MSO).
- If you haven’t already, please register for MSO.
- Log into MSO using your new username and password and select Standalone Rate Switch.
- Submit your clients details. You'll need your client(s) personal details including date of birth, primary mortgage account number and the property's postcode to complete a product transfer in MSO. Please submit the details of all the applicants named on the mortgage.
- Create the case to view the existing lending details and select the case summary. A new case will be created.
- View the property and loan details. If you intend to challenge the index valuation please call us - do not continue with the product transfer.
- When you reach the loan requirements stage of the transfer you can extend the term of the mortgage. If you decide to do that, you must complete the term extension before you switch the product.
- Once you have selected the product, a mortgage offer and illustration pack will be available to view. If a product fee is to be paid rather than added to the loan this will need to be paid at application.
- Once you have confirmed that the applicants have read the mortgage offer and agree to the application please submit the product transfer. If you need the transfer to complete on 1st of the following month, you’ll need to submit by the 20th of the month.
- The customer will receive a confirmation email along with posted documents to their security address.
If your client:
- wants to transfer early and pay ERCs
- wants to change the mortgage amount, decrease the term or repayment basis
- has consent to let on their current mortgage deal
- is taking a payment holiday and / or are in arrears on their mortgage;
- has more than 180 days remaining on their existing mortgage deal; and
- is not on a variable rate
You’ll need to call us on 0330 333 4021.
- procuration fees of 0.20% on all completed product transfer
- the same great service as for our branch customers, including no underwriting for product transfers
Many of our mortgage maturity products are fee free and have no legal costs or valuation fees which can also mean lower costs for your clients.
If they change their mind about their mortgage, residential mortgage customers can change their mortgage choice before the end of their current Principality mortgage term.
If they change their mind outside of 30 days before the new rate is due to start, you can make the change in MSO. If they change within 30 days, please contact the team. * Please note that you can only make changes up to 10 days before the rate is due to start.
We do not pay procuration fees when the new product is the applicable standard variable rate.
All lending is subject to current product terms, lending policy, product availability and eligibility.
Buy to let, holiday let mortgages and product transfers.
- Principality customers with a buy to let or holiday let mortgage can lock in a Principality mortgage prior to their current deal ending.
- Unlike regulated residential mortgages customers, they won’t be able to change their mortgage choice before the end of their current Principality mortgage if they change their mind.
- The new Mortgage Charter rules are for residential mortgage customers only. These do not apply to Principality buy to let and holiday let mortgage customers.
- Once you have submitted a buy to let or holiday let mortgage application on MSO, this cannot be amended.