Principality Building Society has brought out a facility on its mortgage sales and origination system so product transfers can be submitted up to three months in advance.
The facility will allow easier transfers, less paperwork and no need for a “wet signature” so turnaround times will be faster and benefit clients.
The mutual also offers a procuration fee of 0.2 per cent on all completed product transfer, and no underwriting for product transfers.
It added that many such products are fee-free, so have no legal costs or valuation fees, which leads to lower costs for the client.
Shaun Middleton (pictured), head of distribution at Principality Building Society, said: “We’re really pleased to be offering this great new service for our registered mortgage intermediaries. We pride ourselves on giving a great customer experience, and this new service will mean we can support even more people.”
Figures from UK Finance suggest that product transfers will become more popular this year, with 1.5 million fixed rate mortgages coming to an end this year.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
