Product Transfers

You can now earn a procuration fee of 0.20% for recommending your client to transfer to another Newcastle Building Society product upon maturity of their existing deal.

We have now made this process fast and easy with the introduction of our online product transfer tool.

What do you need to do?

Step 1. Review the details of your clients existing mortgage

We will contact your client approximately 24 weeks before their product maturity date. Within this letter we will include your client's unique reference code and mortgage account number. These details will allow you to process a product transfer using our online product transfer tool. You can access the product transfer tool by logging into your Newcastle Intermediary Services account and selecting the 'Product Transfer' tab. The tool will allow you to arrange like for like product rate transfers, where the client does not have multiple parts to the loan.

Your client's maturity letter will include details of their remaining term, current balance and the current valuation we have based on the most recent HHPI (Halifax House Price Index) data. This will also include details of the products we can currently offer your client based on this valuation.

The information will allow you to source a product on the sourcing systems; we therefore recommend you advise your client to bring this with them ahead of your appointment. If your client does not have a copy of this letter, we can provide a copy subject to your client providing authority over the telephone.

Step 2. Produce a product transfer Illustration

All of our existing customer's exclusive products are available on the sourcing systems. You can provide advice on these products and produce a product ESIS for them.

Step 3. Completion of product transfer

Our online product transfer tool will allow you to process your client's product transfer with a few clicks. We don't require any supporting paperwork, making it fast and easy. Please note once your client's maturity date has passed you will be unable to arrange a transfer online.

*Please note if your client's rate ends this month, we will require an email confirming the client wishes to proceed by the 15th of the month to process for the following month.*

A procuration fee of 0.20% will be payable within 28 days of the product transfer completion, direct to your mortgage club or network. We reserve the right to seek return of any procuration fees paid to an intermediary if the application is subsequently found to be fraudulent.

If your client's product is not maturing in the next 6 months, or has already matured, you can follow our 'Offline process' detailed below.

Please note you will not be able to manage a product transfer online if your client's:

Product is not maturing in the next 6 months;
Product has already matured onto SVR;
Product has multiple parts to the loan; or
Looking to switch deals when a new deal has already been secured ahead of maturity.

If your client falls into one of the categories above but wants to arrange a product transfer, you can do this following our offline process:

Step 1: Review our existing customer product matrix.

Step 2: In order to obtain the current valuation, remaining term and balance we hold for your client, please contact the mortgage contact centre on 0345 602 2338 with your client present to provide authority. Once we have authority we can provide the required information in order to produce an illustration for your client.

Step 3: Once you have sourced a suitable product for your client, please send us a copy of the ESIS and a completed Product Transfer Customer Authority Form. Please e-mail these documents to schemetransfer@Newcastle.co.uk.

The Mortgage Charter

If your client wishes to make changes to their mortgage terms in line with the government's new Mortgage Charter, they can submit a form through our mortgage payment options page. Please note this will not affect your involvement in the product transfer process or your procuration fee. Read our frequently asked Mortgage Charter questions here.

Form you need to download:

Product Transfer Customer Authority Form

Useful contact details:

If you have any queries please contact us on:

Telephone Number:	0345 602 2338
Email	Schemetransfer@newcastle.co.uk
Opening Times:	Mon - Fri 9am - 6pm

Frequently Asked Questions

What happens if my client disagrees with the valuation figure?

We use current HHPI data to calculate the current valuation of your client's home. If your client disagrees with this valuation they can request a re valuation of their property, this would be at a cost of £85.

Can I change my client's term?

Your client would need to manage this through our Mortgage Centre on 0345 606 4488.

Can I secure a new rate for my client now, but switch deals should rates drop?

Our products change on a regular basis and rates may increase or decrease. You can secure a new deal up to 6 months before your current deal matures. You can also change your mind if you find a more suitable deal within this 6 month period. Should a more suitable deal become available, you can switch to this following our offline process above.

Can I change my client's repayment type?

Your client would need to manage this through our Mortgage Contact Centre on 0345 606 4488.

Can I arrange Further Lending, Porting or a Transfer of Equity for my client?

The client would need to manage this separately with our Mortgage Contact Centre on 0345 606 4488.

When will my client benefit from the new rate?

We allow customers to transfer to their new product straight away with no ERCs if it's beneficial for the customer to do so. In order to ensure all is set up on time we require your client's ESIS document and a signed Product Transfer Customer Authority form before the 15th of the month in order to set this up for the 1st of the following month.

How long will the Illustration be valid for?

Illustrations are valid for one month from the point of issue. Products can be withdrawn at any point and at short notice, we would therefore encourage your client to return this ASAP to avoid disappointment.

My client hasn't been offered any products in their mortgage maturity letter, can they still have a product?

There are a number of reasons why your client may have not been offered a product in their maturity letter. This doesn't necessarily mean they can't have a new product. If your client falls into this category please call us on 0345 606 4488.

When will I receive my procuration fee?

A Proc fee of 0.20% will be payable within 21 working days of the product transfer completion direct to your mortgage club or network.

How long do I have to arrange a product transfer upon maturity?

You will have until 1 day before maturity to manage a product transfer using our online tool. Once your client's product has matured the process above titled, 'My Clients Product is not maturing or has already matured' must be followed.

My client's product isn't maturing but they have asked me to review their mortgage, how do I obtain a current valuation and balance outside of the product maturity window?

In this instance please contact the mortgage contact centre on 0345 602 2338 with your client present to provide authority. Once we have authority we can provide the required information.

What products will my client be offered at maturity?

Product offerings will be dependent upon the product type that your client is maturing from.

Product maturing	Product offering
Standard Repayment	Standard Repayment
Interest Only	Standard Repayment (on Interest Only terms)
Joint Mortgage Sole Proprietor	Standard Repayment
Buy to Let	Buy to Let
Large Loan	Large Loan