At Leek Building Society we value the hard work that you do when advising your clients about their mortgage and recognise that product transfers are a key part of the relationship that you have established.
If you have any questions and would like to speak with one of our Mortgage Team, please call us on: 0800 783 0847.
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Any of the parties to the mortgage can request a Product Transfer, however all parties to the Mortgage must sign the binding variation acceptance form.
Yes, providing they meet the eligibility criteria.
You will need to complete the Customer Consent Form with your client. This will need to be signed by one of the account holders and e-mailed securely to mort.admin@leekbs.co.uk.
Please note that any instructions will not be actioned until we have received customer consent.
Your client will receive information about their product transfer options around 120 days before their current product end date. You will be able to apply for a product transfer at any point after this time.
If your client wishes to switch their product transfer earlier, ERC’s may apply.
You can view which products are available on our website by clicking here.
Please note that where your client has a Residential mortgage that is part Interest Only and part Capital & Interest, the Interest Only part of the mortgage is only eligible for Interest Only products. The Capital & Interest part of the mortgage is only eligible for Capital & Interest products.
We use an indexed linked valuation. If your client disagrees with the valuation figure provided by Leek Building Society, a revaluation can be requested. This request will be subject to a valuation fee.
The valuation fees are non-refundable, so if the property is not valued differently to Leek Building Society's valuation, your client will not be offered any alternative products and they forfeit the valuation fee. ESIS documents need to show the fee paid for revaluations.
The mortgage product will be secured when the mortgage offer has been signed by all parties to the mortgage and has been returned to Leek Building Society.
If your client wishes to make a capital repayment they must contact our Mortgage Administration team on 0800 783 0847 or, email us at:
mort.admin@leekbs.co.uk
Your client must contact the Mortgage Administration team before the product transfer has been completed to avoid incurring early repayment charges.
Your client will need to arrange this directly with the Society, together with their product transfer. Your client can call our Direct Mortgage team to arrange an appointment on 0808 169 6680.
For standard product transfers, where there are no material changes to the term or repayment method, then no further documentation will be required.
For all other application types where there is a material change you will be required to provide the following documents to mort.admin@leekbs.co.uk, quoting your client's mortgage account number:
Fees will depend on the product that you have selected. If your client requests a revaluation, this will be subject to a revaluation fee.
Evidence will be required when the repayment strategy differs from the current repayment strategy.
For standard product transfers, where there are no material changes to the term or repayment method, then a credit search will not be required. For all other application types there may be a requirement to perform a credit search on your client.
Our Mortgage Administration team will contact your client to arrange for the payment of any fees.
We will write to you when we issue the mortgage offer to your client, including a copy of the offer document, and also to confirm that the product transfer has been completed.
Your client will receive a paper copy via the post. All parties on the mortgage must sign the offer before it is returned.
Yes, you will receive a copy of the offer in the post with a covering letter.
Providing the Customer Consent and Product Switch Forms are received by the 18th of the month and the Binding Mortgage Variation Acceptance form (signed by all parties to the mortgage) is received by the 25th of the month, the transfer will take place on the 1st of the following month. Otherwise, the mortgage will revert to the Leek Building Society Standard Variable Rate if your current mortgage scheme is due to expire at the end of this current month.
Please note that where there is a change to term or repayment method, additional supporting documentation will be required.
The fee will be paid within 14 days of completion.
The offer on a product transfer is valid for 180 days.
If you have any questions before submitting the Product Switch Form, please contact us on 0808 281 9309 or email us at intermediary.mortgages@leekbs.co.uk.
For any questions after you have submitted the Product Switch Form, you should contact our Mortgage Administration team on 0800 783 0847.
Find out about our product transfer eligibility criteria here.
Complete this form to register to be on Leek Building Society's panel in order to receive the procurement fee.
Completing this form allows us to deal with you directly regarding your client's case, making their experience more streamlined and simple.
View our Intermediaries Online Website Conditions and Terms of Business here.
Step 1 - Check your client's eligibility
Step 2 - Register with Leek Building Society
Step 3 - Identify your client's mortgage details
Step 4 - Choose your client's new mortgage
Step 5 - Submit your application
Timeframes
If the documentation is not received within these timescales the mortgage will revert to Leek Building Society's Standard Variable Rate.
