Product Transfer – dedicated products and procuration fees introduced

The information below outlines the key highlights of our retention offering and the new process for intermediaries to transfer customers can be found here. These products have the same rental rates as our new business products, but with a reduced application fee.

Key highlights of our Product Transfer options include:

• Products have the same rental rates as our new business products, but with a reduced application fee of £499
• No further underwriting required*
• No need for revaluation of the property*
• Products available for all eligible customers with products nearing the end of their fixed term. The new products and rental rate will take effect from the maturity date of the existing product
• No early payment charges on any product
• A procuration fee of 0.25% for brokers (0.30% for Broker Networks/Mortgage Clubs) is payable, if a broker has given advice to the customer with regard to the Product Transfer transaction

*Unless the customer is increasing the finance amount or making material changes to the agreement.

If you have any queries regarding the product transfer process please contact our Customer Servicing Team on 0800 029 3994 or email gatehouse.servicing@gatehousebank.com.