Scottish Widows Bank has launched a new online Mortgage Product Transfer facility, aimed at simplifying the switching process for brokers and their clients.
Brokers using the service will receive a full procuration fee upon completion and can initiate the transfer without incurring any Early Repayment Charges three months prior to the end of the current rate period.
The facility will provide brokers with products for their clients and allow them to input their client’s details, view the mortgages they are eligible for, and confirm the chosen rate online.
Gordon Bowden, director at Scottish Widows Bank, said: “Scottish Widows Bank is committed to offering borrowers award-winning mortgage products and outstanding service.
“The launch of online product transfers which command a procuration fee is something brokers have asked for and further cements our reputation as an innovative, flexible and efficient lender.”