• No Fees
• Next to no effort involved
• Quick and time efficient – No Valuations, No Underwriting and No Legals

The Process:

The earliest you can complete a PT with SBI UK is 2 months before the deal expires.

There are a few steps in process involved as per below:

• Within the last three months of the product expiry date the customer will receive a letter from our retention team informing them about the expiry date and available options on how to proceed (remain on SVR, do PT direct or seek broker’s advice).
• Two months before the expiry date the customer will receive a second letter from the team, this one will include the application form and available products for the customer to choose from.
• Application form can be completed by the broker (it is important that you complete the broker detail section on the form with the correct submission route)
• Once the form is completed and signed by the customer, this needs to be posted or emailed to the retention team (email address and postal address will be available on the letter).
• Retention team will prepare the offer letter based on the product you have chosen, and they will send the offer letter to the customer to sign it.
• The signed offer letter will need to be posted/emailed to the team minimum three weeks before the expiry date.

Notes:

Early Repayment Charges will still apply on any overpayments made (over the allowable 10%) on the account during this period.

To be able to manage the product switch as an intermediary, you will need to get authorisation from the client via the Intermediaries Authorisation Form which needs to be wet signed by the client. (Please download link below)<>

Timescales:

To avoid the risk of the customer going on SVR, a signed offer letter will need to be provided minimum three weeks before the expiry date.

Getting in touch:

For all matters relating to Mortgage Accounts, customers and brokers can contact our Mortgage Servicing Team:

Email:BTL@bcmglobal.com

Phone Number: 0344 967 1860

For General Retention Enquiries:

Email:retentions.sbiuk@statebank.com

Phone Number: 0204 628 7593