"Retention has certainly been one of the hot topics over the last couple of years and one that we have had valuable dialogue on with our key intermediary partners."
NatWest Intermediary Solutions will launch its new product transfer facility on Friday 15 December, paying a gross procuration fee of 0.2%.
The facility will be available for both residential and buy-to-let business for customers who are within their roll-off period, those on a standard variable rate and those with ‘track and switch’ functionality. The balance available to switch must also meet the new product minimum of £25,000.
To use the new facility brokers need to log on to the NatWest Intermediary Solutions' web site and select the ‘Product switch’ option.
The facility is not available to customers who want to exit an existing deal ahead of the roll-off period, those customers wishing to simultaneously take additional borrowing or instigate a contract variation, or those whose mortgage is in arrears.
Graham Felstead, Head of Intermediary Mortgages, NatWest Intermediary Solutions, said: “I am delighted that we are able to launch our new product transfer facility. Retention has certainly been one of the hot topics over the last couple of years and one that we have had valuable dialogue on with our key intermediary partners.
"With our broad range of mortgages in both the residential and buy-to-let sectors, this really does offer brokers a great opportunity to offer their customers a more complete remortgage experience.”