According to UK Finance, product transfers accounted for £158.7bn of the lending market in 2018.
The guide advises intermediaries on how best to approach product transfers and helps them to find out what a lucrative opportunity they can offer.
It also offers advice on how brokers can determine which clients would be most suitable for a product transfer and introduces Halifax’s forward dating service which allows borrowers to choose when would be the best time for them to switch.
Paula John, editor in chief of Mortgage Solutions, said: “Brokers are introducing a portion of this business, but there is huge potential to increase the intermediary market share of product transfers.
“This guide looks at the changing sector as well as considering the clients product transfers are most suitable for.”
‘The Broker’s Guide to Product Transfers’ is available to read here: https://secure.viewer.zmags.com/publication/8179b6ea