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Product transfer calculator

Enter the balance and the lender's switch options. See the monthly payment, cost over the fix and true rate including the fee for each, ranked, with fee break-even and ERCs in pounds.

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Product switch options

No LTV needed: a product transfer replaces the existing loan with the same lender. Fees added to the loan are charged interest, as lenders do.

Paste the lender's product list

Copy the switch products from the lender's portal, rate sheet or Excel and paste them here, as many as you like. Each product needs its type and term, rate, fee and ERCs, e.g. Fixed 24 6.50% BBR+4.00% 1.00% 4%,3% 04234. The reversion rate (BBR+ / SVR) is ignored.

Your case saves automatically on this device as you type. Clear all removes it.

Illustration based on the lender's quoted switch rates and fees. Monthly payments are calculated by the broker and should be checked against the lender's offer. Prepared with DAS Source.

How the figures are worked out

Fee. A percentage fee is taken on the current balance. If it is added to the loan, the new balance is the current balance plus the fee, and interest is charged on the lot.

Cost over the fix is the interest paid during the fixed period plus the fee. On capital repayment it counts interest only, not the capital the client pays down.

True rate (incl. fee) spreads that cost evenly across the fixed period: cost over the fix ÷ years ÷ current balance. It is the same measure DAS Source shows on every product card, so a 6.09% rate with a 4% fee and a 7.59% rate with a 1% fee can be compared directly.

Break-even is how many months of the lower payment it takes to recover a bigger fee, against a lower-fee option with the same fixed period. If that is longer than the fix, the bigger fee costs the client money.

Questions brokers ask

Why is there no LTV on a product transfer?

A product transfer moves the client onto a new rate with the same lender for the existing balance. There is usually no new valuation or underwriting, so the option list and pricing come from the lender's switch or loyalty rates rather than an LTV band.

Should the fee be added to the loan?

Adding the fee keeps cash in the client's hands but the fee then accrues interest for the life of the loan. This calculator includes that interest in both the payment and the cost over the fix.

How are the ERCs and exit fee calculated?

Each year's percentage is applied to the balance at the start of that year. On interest only the balance does not fall, so the charge stays on the full loan including any added fee. The exit fee is the percentage charged on the balance when the loan is repaid after the fix ends.

When is a product transfer the wrong answer?

When a remortgage elsewhere beats the switch options after legal and valuation costs, or the client needs to raise capital or change the structure. Run the case across the panel before recommending the switch.

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