Buy-to-let policy
We offer a hassle-free product transfer service. Applications can be made up to 180 days before maturity and to apply you just need to log onto VMO and choose the ‘Product Transfer’ option from the menu.
Additional borrowing, changes to mortgage term and changes to the repayment method can all be requested subject to meeting criteria.
As part of the process, we will send a mortgage offer to your client which has an acceptance form that needs signed and returned.
More information can be found in our Retention Sales Aid.
A product transfer may not be available in very limited circumstances (e.g. account is in arrears and or has a consent to reside).
Product switching
As part of any product transfer application, we will allow you to amend the product selected at any point prior to maturity. There are no restrictions on the number of times you can ‘switch’ products, however:
- If we are in the final month preceding the product transfer, we may have started the completion process, and this will have locked in the chosen rate at that time
- Any request to change rate after this will mean that your customer will have to pay an SVR payment in the month of maturity. The rate will then be amended in time for the following payment with an interest adjustment applied