"Whether it’s a product transfer or a remortgage process, brokers make the mortgage journey less stressful for clients"
1.8 million fixed rate mortgages are due to expire in 2025, according to UK Finance - and reaching the end of a mortgage term can be a stressful and time-consuming process for homeowners. With household budgets under pressure, many more customers are turning to mortgage brokers for help. This guidance can help them choose the right product and get a clear understanding of their options.
Product transfers are continuing to gain traction over a full remortgage. By staying with their current lender and moving to a new deal, clients can often avoid much of the stress, paperwork and affordability checks that come with a switch to a new provider. UK Finance highlighted that product transfers are projected to rise by 13% this year.
For clients navigating financial or emotional challenges, brokers can support their wellbeing and manage any concerns when they come to the end of their mortgage term. They can advise clients by picking the right mortgage for their needs, which can lead to a positive outcome and greater confidence in their financial decision making.
Product transfers offer continuity and reassurance A product transfer offers many advantages, but one stands out: simplicity. The process typically involves no new affordability checks and may not require a new property valuation, additional legal work or exit fees. This can make the process quicker, more straightforward and significantly less stressful for the customer. Not having a valuation can help ease potential financial concerns and reduce emotional stress, which may offer some reassurance during a time when stability is valued.
Support from a broker can be really valuable for vulnerable customers too. This could include those with health challenges, mental health conditions or limited financial experience. Brokers advice could help them understand all the information they need to know and the financial impact of a decision they make.
Working with a broker at this stage adds further benefits. Reviewing the full range of options, rates and lenders can be overwhelming, but a broker provides a focused view of the solutions most relevant to the client. This guidance offers security and comfort in decision-making, helping clients feel confident they are making the right choice.
Staying with an existing lender also lets clients seamlessly continue on their mortgage journey. Those who like the service they’ve received know they’ll still benefit from the same level of support. In periods of uncertainty, this sense of familiarity can make a real difference. It can instil confidence in clients that they are cared for by a trusted lender.
Not a one-size-fits-all approach Despite their advantages, product transfers might not always be the right choice for customers. Others may benefit from exploring the wider market if a more suitable deal is available elsewhere. In cases where a client’s circumstances have improved – perhaps through higher income or a stronger credit profile – a new lender may be able to offer more attractive terms.
By carefully assessing these factors, brokers can help clients determine whether a product transfer provides the stability and simplicity they need or whether a remortgage might deliver more tailored financial benefits.
How brokers can help
1. Recognise when stability matters most Some clients value reassurance over rate-sensitivity. Identifying when a product transfer offers greater emotional stability can make all the difference, particularly for those with changing life circumstances.
2. Keep things simple and stress-free The appeal of a product transfer often lies in its certainty. By highlighting the simplicity like the absence of revaluations or legal fees, brokers can help clients feel calm and confident throughout the process.
3. Tailor advice to personal goals Wellbeing comes from feeling understood. Continuing to take time to explore each client’s priorities – whether that’s stability, flexibility or future borrowing potential – ensures the recommendation supports both their financial health and peace of mind.
4. Reassure through continuity Staying with a familiar lender offers comfort, especially for those anxious about change. Reinforcing that existing relationships and service levels will remain consistent helps strengthen clients’ sense of trust and security.
5. Stay supportive beyond the switch Wellbeing doesn’t end once the transfer completes. Checking in after the process and maintaining open communication shows clients they’re not just another transaction, and it reinforces that long-term, helpful relationship which can reduce stress in the future.
Supporting the mortgage journey In a busy market, brokers play a crucial role in advising clients the right mortgage product. They can deliver outcomes that are efficient, client-focused and make sure solutions match their needs and long term goals. Whether it’s a product transfer or a remortgage process, brokers make the mortgage journey less stressful for clients. In an uncertain climate, that blend of expertise and empathy can make a lasting difference.
