Combined product transfer and further advance
A combined Product Transfer (PT) and Further Advance (FA) allows your client to select a new product for their existing Halifax mortgage and borrow more money in a single application.
Before applying, check the extra borrowing meets our Further Advance criteria.
For information about the proposition and benefits, see Combined Product Transfer and Further Advance.
Applying within the final 3 months
If you apply within the final 3 months of the existing product, the customer can choose when to request the Further Advance funds.
The Product Transfer takes effect from the first day of the month after the Further Advance funds are released.
If the customer wants the Product Transfer to start after their existing product ends, the Further Advance funds should not be requested until the appropriate month.
The release date of the Further Advance funds determines when the Product Transfer takes effect. The Product Transfer will not start unless the Further Advance funds are drawn or released.
Keying the application
When completing the application:
- Select the correct payment route.
- Check the customer details, including that names are spelt correctly.
- Where the applicant is self-employed, include the most recent tax year overview dates within the 18-month limit.
- Enter the Further Advance amount and reason for borrowing.
- Check that a new product has been requested for the full amount required.
Mortgage Illustration and offer
You will receive 1 Mortgage Illustration and Mortgage Offer covering both the Product Transfer and Further Advance.
The mortgage documentation will refer generically to the Mortgage Offer rather than separately identifying the Product Transfer or Further Advance.
You must return the declaration issued with the Mortgage Illustration signed by your client(s).
If the declaration is not returned, an offer cannot be produced and the application cannot complete.
We'll email you when the offer is available online.