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A product transfer mortgage in Hull is when you switch to a new deal with your current lender rather than moving to a different provider.
This can be a simple way to secure a better rate, especially if your existing deal is coming to an end.
Staying with the same lender means less paperwork and fewer affordability checks compared to remortgaging elsewhere.
It’s an option many homeowners consider when looking for a smoother transition between mortgage products.
A product transfer involves choosing a new mortgage deal from your current lender before your existing one expires.
Your lender will usually offer a range of options, which may include fixed or variable rates, based on your circumstances.
Since you’re not switching providers, the process is often quicker, with fewer legal requirements and no need for a property valuation.
A mortgage broker in Hull like us can help you assess whether a product transfer is the right choice or if better deals are available elsewhere.
A mortgage broker in Hull can compare your lender’s product transfer options with deals from other providers, helping you find the best possible rate.
While staying with your current lender might seem convenient, there could be more competitive deals available.
A broker will review your circumstances and future plans to ensure the mortgage you choose suits your needs.
Getting mortgage advice in Hull can prevent you from settling for a deal that might not be the most cost-effective in the long run.
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Lyndsey
Dan was great during our meeting, gave us lots of info which helped us to decide which product to take.
1 hour ago
Anthony
Excellent research by Malcom in finding the most competitive deal. Excellent after sales service by Jo. Thank you both
1 day ago
Demi
Brilliant service as always. This is my second time using Hull Moneyman and I am still super impressed the second time round with the service received.
1 week ago
Lucy
From start to finish excellent professional service, appointments all where super flexible around work commitments.
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Natalie
Excellent service from all the Team from start to finish . Would recommend them . Answers all my questions quickly and explained fully
3 weeks ago
Deborah
Hullmoneyman has arranged my last few mortgages and dealing with them has always been a pleasure. Straightforward and quick.
1 month ago
Demi-Leigh
Used first time buyer years ago and helped. And then used again to help with my mortgage transfer and all went smoothly.
1 month ago
Lee
This is the second time we've used Hullmoneyman for our mortgage and they've been fantastic both times. Great service and great advice too, saved us a fortune and saved us lots of time and hassle. Would greatly recommend them to anyone.
1 month ago
Anonymous
Excellent advice and service… Dan went through everything and explained all aspects, Jonathan kept us up-to-date with all procedures. Solicitor even came to our house to complete signatures etc. From our meeting with Dan to completion only took 4...
2 months ago
Matthew
They were absolutely amazing in everything I can’t recommend them enough.
2 months ago
Joan
Excellent service. Paula was extremely helpful and understanding throughout. Will certainly recommend your services
2 months ago
Robert
Personally very happy with the service and interactions with the staff. Thank you.
2 months ago
Anonymous
I’m a first time buyer and I would recommend using this business. Charlie & Debbie made myself and my partner feel completely at ease with the process. I found their customer service to go the extra mile and no question was a stupid question.
2 months ago
Anonymous
Simple and efficient process.
2 months ago
Edmund
Superb service, fast and very reliable. Good comunication all the way thru whole mortgage process. Would definately recomend.
3 months ago
Ebrahim
Yeh I tendtogive really good reviews. Hull money man hashelped us greatly. 99.9 of everything they asked from us was fine. It wasnt them but the advisor they qent to Newcastle seemed to want to know exactly what we where planning well into the...
3 months ago
Lynley
We have just used Hull Moneyman again for our remortgage! Very friendly and competent staff who go out of their way to make sure we understand the process and are happy with the product.
3 months ago
Gary
Held my hand through the process, telephone call where prompt and ontime. E-mail was streight forward and communicatrion in general was very good.
3 months ago
Amy
The service we have received from Hull Money man (mainly Charlie) has been outstanding. Charlie has been there for us through a few house fall throughs and each time pulled through for us! Even made contact during his annual leave! As a first time...
4 months ago
Mr David
Very helpful, always available and kept us informed at all times
4 months ago
A product transfer keeps you with the same lender but moves you onto a new mortgage deal.
A remortgage in Hull, on the other hand, involves switching to a different lender, which may offer lower rates or more flexible options.
While a remortgage can sometimes save more money, but they can involve additional checks, legal work and possible fees, whereas a product transfer is usually a quicker and simpler process.
It is always worth exploring your options before committing to a product transfer mortgage as you could save money elsewhere.
In most cases, a product transfer does not require a full affordability assessment, as you’re staying with the same lender.
This makes it a convenient option if your financial situation has changed since you took out your original mortgage.
However, if you’re looking to make changes, such as borrowing more, your lender may still need to review your finances before approving the new deal.
It’s best to start reviewing your options around six months before your current deal ends.
Many lenders allow you to secure a new rate in advance, meaning you can lock in a competitive deal before your existing one expires.
A mortgage advisor in Hull can check whether a product transfer is your best option or if switching lenders could save you more money.
No, a product transfer doesn’t require a solicitor because you’re not changing lenders.
This makes the process faster and avoids the legal fees associated with remortgaging.
If you were to remortgage with a new provider, legal work would be necessary to transfer the mortgage from one lender to another.
Some lenders allow you to borrow additional funds as part of a product transfer, but this depends on their lending criteria.
If you need to raise extra money, perhaps for home improvements or debt consolidation, you may need to go through affordability checks.
A mortgage broker in Hull can help you explore whether a product transfer with additional borrowing is suitable or if remortgaging elsewhere would be a better option.
A standard product transfer usually has no impact on your credit score since you’re not applying for a new mortgage with a different lender.
However, if your lender needs to reassess your affordability for additional borrowing, they may carry out a credit check.
Unlike a full remortgage, where multiple checks could be made, a product transfer is often less intrusive.
In some cases, you may be able to switch early, but this could come with early repayment charges (ERCs).
If your deal is ending soon, it’s worth checking what rates your lender is offering and whether an early switch would still be financially beneficial.
A mortgage advisor in Hull can review your options and help you decide whether to wait or switch sooner to avoid potential rate increases.
Your journey starts with a chat about your current mortgage and future plans.
If your deal is coming to an end, we’ll explore whether a product transfer with your existing lender is the right option or if remortgaging elsewhere could offer better savings.
We’ll assess the rates your lender is offering and compare them to other deals available on the market.
If a product transfer suits you best, we’ll guide you through the process. If remortgaging could save you more, we’ll explain how switching lenders works and what’s involved.
Once you’ve chosen the best option, we’ll handle the paperwork and liaise with your lender.
If you’re staying with your current provider, the process is usually quick and simple. If you’re remortgaging, we’ll help with the application and any legal steps needed.
With your new mortgage in place, you can enjoy the benefits of your updated deal.
Whether you’ve secured a lower rate, borrowed extra funds, or simply avoided your lender’s standard variable rate, we’ll make sure everything runs smoothly from start to finish.
Our experienced mortgage advisors in Hull have helped countless homeowners with product transfers and remortgages.
We’ll explain your options in simple terms, making sure you secure a deal that suits your needs.
With access to a wide range of lenders, we’ll help you find the right solution.
From comparing deals to handling the paperwork, we take the stress out of the process.
Whether you’re staying with your current lender or switching to a new one, we’ll manage everything from start to finish.
Our goal is to make securing a new mortgage as smooth as possible.
Every homeowner’s situation is different, which is why we take the time to understand your circumstances.
We’ll assess whether a product transfer mortgage in Hull is the best option or if remortgaging could save you more.
We pride ourselves on offering honest, straightforward mortgage advice with no jargon.
Our friendly team is here to answer your questions, provide clear guidance, and ensure you feel confident about your mortgage decisions.
We’re committed to finding the right deal for you.
If you’re still within a fixed-term mortgage, switching early could result in early repayment charges (ERCs).
These fees vary depending on your lender and how much time remains on your current deal. In some cases, the savings from a lower rate could outweigh the cost of the charges.
Speaking to a mortgage broker in Hull like us can help you work out whether it’s worth switching early or if waiting until your fixed term ends is the better option.
When your fixed-term mortgage ends, your lender will usually move you onto their standard variable rate (SVR), which is often higher than other available deals.
This can lead to increased monthly payments, making it important to secure a new mortgage before your current rate expires.
A product transfer mortgage in Hull could allow you to switch to a better deal with the same lender, or remortgaging may offer more competitive rates elsewhere.
A product transfer can be a convenient way to secure a new mortgage deal, especially if you want to avoid extra paperwork or affordability checks.
However, it’s not always the best financial decision. Some lenders offer better rates to new customers than to existing ones, meaning remortgaging could save you more.
Our mortgage advisors in Hull can compare all your options to ensure you’re getting the best deal for your situation.
Some lenders allow you to adjust your mortgage term when switching deals, but this depends on their criteria.
If you want to shorten your term to repay your mortgage faster, you may face higher monthly payments.
Extending your term could reduce your monthly costs but might result in more interest paid overall.
If you’re considering adjusting your term, a mortgage broker in Hull can help you find the most suitable approach.
Lenders may still offer a product transfer to borrowers with bad credit, as staying with the same provider often means fewer checks.
However, if your circumstances have changed significantly since you first took out your mortgage, your lender may review your affordability before approving a new deal.
If you’re unsure whether you qualify, a mortgage advisor in Hull can help explore your options and see if a remortgage with another lender might offer better flexibility.
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Hullmoneyman.com & Hullmoneyman 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.
© Hullmoneyman 2025.
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Hullmoneyman.com & Hullmoneyman 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.
© Hullmoneyman 2025.
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