Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the acf domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/dh_pte/ptx.cobianzo.com/wp-includes/functions.php on line 6170

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the simple-custom-post-order domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/dh_pte/ptx.cobianzo.com/wp-includes/functions.php on line 6170

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wp-migrate-db domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/dh_pte/ptx.cobianzo.com/wp-includes/functions.php on line 6170

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the gravityforms domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/dh_pte/ptx.cobianzo.com/wp-includes/functions.php on line 6170
Frequently Asked Questions – Product Transfer Experts

Frequently Asked Questions

How do you get paid?

►

We receive a commission from your bank for transacting the product transfer on your behalf.

Is it cheaper for me to go direct to my own bank?

►

The rates and options offered from your bank are the same as the choices we offer you. There is no saving for you going direct to your own bank.

What happens if I don’t want to proceed after you send me the options?

►

You are not obliged to proceed after we send you your options. We only proceed with processing your mortgage transfer after you confirm which option you would like us to progress with.

When do I receive the money from my cash back offer?

►

Once your new mortgage offer takes effect, you can then expect to receive your cash back offer within 7 working days of us receiving the commission from your bank.

Can I submit more than 1 property with you?

►

Yes. You can use our service for as many properties as you own and as often as your mortgage provider(s) permits.

Can I make any changes to my mortgage while doing a product transfer?

►

Generally you cannot change anything about your current mortgage during the product transfer process, however some lenders do allow the term to be changed.  If you wish to make changes to the loan amount or the borrowers for example, you will need to take advice from a qualified mortgage professional.

Can I change my mortgage term?  

►

Normally no, but some lenders will allow you to extend the existing term when processing your switch.  We will inform you during processing if this option is available to you. 

Do you offer advice on my mortgage transfer options?

►

No. We do not offer any advice. The Mortgage PTX offering is a non-advised service only. If you require advice you would need to contact a qualified mortgage professional  to help you.

I have another question that I cannot find answered in the FAQs

►

Please send your questions to: enquiries@mortgageptx.com

How do you calculate my cash back offer?

►

We will return to you as cashback, 30% of the commission we receive from your lender for processing your transfer with them.

This might be slightly more if you are part of a promotional offer.

I can’t find my existing lender in the drop down list on your website

►

If your existing lender is not yet on our list that means we are not currently
working with them. However, new lenders are being added all the time so
please keep checking back with us at enquiries@mortgageptx.com

How do you use my personal information?

►

Your personal information is used for the sole purpose of obtaining you the product transfer options with your current mortgage provider. We do not pass your information on to any third parties. Please check our customer privacy notice for more details.

Is Mortgage PTX regulated?

►

Mortgage PTX is regulated by the FCA, our number is 1008205. However, please note that we do not offer advice on mortgages.

Will I need to provide any proof of income to switch to a new rate?

►

No. For product transfers your lender do not require us to provide any proof of your income.

Will the bank credit check me in order to switch to a new rate?

►

No. The bank will not do a credit check on you. However, if you have any mortgage arrears you will not be able to proceed until the account is brought back up to date.

How is my property valued when I do a rate switch?

►

Most banks use the House Price Index (HPI) to value your property, instead of valuing it manually or individually. This allows them to use the movement of house prices in your region to estimate its current value.

Where can I find my mortgage account number?

►

You can find your mortgage account number at the top of your mortgage statement.

What if I want to borrow more money?  

►

You will need to contact your lender directly or refer to a mortgage broker.  Mortgage PTX is a non-advised service and we cannot arrange additional borrowing or a Further Advance. 

What does the PTX stand for in Mortgage PTX?

►

Product Transfer Experts. This offer is purely focused on helping you transfer over to new mortgage products offered by your existing lender – and we’re experts in those offers.