A product transfer moves you to another deal with your current mortgage lender. A remortgage normally replaces your loan with one from a different lender. Compare the total cost and the checks involved before choosing: the lowest headline rate or the quickest route may not be the best fit.
Product transfer or remortgage: what changes?
Begin with a like-for-like comparison for the amount you owe, the remaining term and the period you expect to keep the new deal. Then check whether either route needs extra borrowing or a change of term.
| Question | Product transfer | Remortgage to a new lender |
|---|---|---|
| Who provides the new deal? | Your present lender. | A different lender. |
| Which offers can you compare? | Those your lender makes available to you. | Offers from other lenders for which you may qualify. |
| What checks might apply? | A straightforward switch may involve fewer checks. Changing the loan can trigger more. | A new application normally involves credit, income, affordability and property checks. |
| What costs should you check? | New product fee, rate, monthly payment and any charge for changing early. | Product fee, rate, monthly payment, legal/valuation costs, existing-lender exit charges and incentives. |
| Can you borrow more? | Ask about a further advance and its separate terms and checks. | Ask the new lender to assess the requested amount and purpose. |
Neither column is an approval route. The lender’s current offer, your mortgage terms and your circumstances decide what you can actually apply for.
Work out the cost of staying and switching
A rate comparison alone can mislead. Request an illustration for each realistic option and put the figures beside each other over the same period.
- Start with today’s loan. Note the outstanding balance, repayment type, remaining term, current rate and the date your deal ends.
- Compare payments over a useful period. Look at the monthly payment and the total paid during the period you expect to keep the new deal. A different term can make a monthly payment look cheaper while increasing long-term interest.
- Add fees and charges. Include product or arrangement fees, any early repayment charge, exit, legal and valuation costs. Deduct only incentives that the offer actually includes.
- Check what happens afterwards. Note each deal’s end date, reversion rate and rules on overpayments or early exit. If you may move soon, those terms can matter as much as the initial rate.
Example of the question to ask: “If one deal has a slightly lower rate but a larger fee, what will each route cost me over the time I expect to keep it?” Ask for the pounds-and-pence comparison, not a claim that either option always saves money.
Explore the existing product-transfer service for the current-lender route and the remortgage service for switching lenders. Use your current illustrations for the actual cost comparison.
Extra borrowing, changed circumstances and moving home
You need more money
A new deal for your existing balance does not automatically provide extra borrowing. Ask about a further advance, its rate and term, or a remortgage for the combined amount. Securing other debts on your home can increase the total cost and put the property at risk if payments are missed.
Your income or credit has changed
Do not assume a transfer will avoid every check. Your present lender may treat an unchanged loan differently from an application to borrow more. A new lender will make its own assessment. If adverse credit is relevant, the separate bad-credit remortgage guide explains the homeowner-specific questions.
You may move or change the loan
Check early repayment charges and whether the new product can be ported before tying yourself to a fresh deal. Porting is a new application against the next property; the porting guide covers that distinct decision. Changing the term or repayment type may also require separate assessment.
If your deal is about to expire, the fixed-rate-end guide explains the immediate timing and reversion-rate question. This article focuses on comparing the two replacement routes.
Live reviews
Read original client feedback on Google before you enquire. It reflects people’s experiences of the service, not a prediction of the mortgage available to you.
Check how clients describe the advice
A stay-or-switch comparison can involve rate expiry dates, product fees and a choice of lender. It is sensible to see how an adviser explains options and costs before discussing your own figures.
The button opens Count Ready’s live Google profile so you can read feedback in context.
Questions before you choose a new deal
Is a product transfer the same as a remortgage?
In everyday use, a product transfer means choosing a new deal with your current lender. A remortgage usually means replacing the existing mortgage with a loan from a different lender. Ask how your lender describes the transaction if you are changing the amount borrowed or other terms.
Is a product transfer always cheaper?
No. A simpler process does not mean the deal has the lowest overall cost. Compare the interest and monthly payments over the period you expect to keep the deal, plus product fees, any early repayment charge, legal or valuation costs and incentives.
Will my lender check my credit for a product transfer?
The checks depend on the lender and the changes requested. A straightforward switch with the same balance and term may need fewer checks than borrowing more or moving to another lender. Do not assume there will be no credit or affordability assessment; ask before applying.
Can I borrow more with a product transfer?
Possibly, but extra borrowing is a separate decision and may involve an additional application, affordability assessment, valuation, product and fees. Compare the current lender’s further-advance terms with a remortgage and the total cost of borrowing.
Should I switch before my fixed-rate deal ends?
Start comparing early enough to understand the available options and the date your present deal ends. Check whether changing before that date triggers an early repayment charge and when a new rate would begin. The right timing depends on your lender’s offer and the other deal’s terms.
What if my income or credit history has changed?
A new lender will assess a remortgage application against its current criteria. Your existing lender may offer a product transfer with different checks, depending on the request and its policy. Neither route is guaranteed; disclose the change and compare the options available to you.
Where the comparison was checked
The general process and cost points were checked against these UK sources on 23 October 2026. A current lender illustration and your own mortgage documents are needed for a personal comparison.
- MoneyHelper: remortgaging to cut costs — product transfers, remortgage checks, fees and early repayment charges.
- MoneyHelper: mortgage interest-rate options — comparing products beyond the initial rate.
- FCA: mortgage support and changing rates — reversion rates and lender checks.
This is general information, not a personal recommendation. Lender products, criteria and charges can change. Some customers may need additional support from their current lender if they are worried about payments.
Compare your real offers before deciding
Tell us when your current deal ends, the approximate balance, whether you want to borrow more and if you expect to move. Count Ready can discuss the current-lender offer alongside other potentially suitable routes. An initial conversation does not guarantee a product, rate or approval.
Please do not send identity documents, bank statements or credit reports through an open enquiry form. Read our Terms of Business for service and fee information. Count Ready is a broker, not a lender. Your home may be repossessed if you do not keep up repayments on your mortgage.