Product transfers and Further advances combined

A combined Product Transfer (PT) and Further Advance (FA) allows your client to select a new product for their existing Halifax mortgage and borrow additional money in a single application.

Benefits

  • 1 application. Submit the Product Transfer and Further Advance together instead of making 2 separate applications.
  • Instant decisioning. Most applications benefit from an instant Further Advance decision using a soft-footprint credit search.
  • Illustrations. Create and review illustrations as part of the application.
  • Save and resume. Most applications can be saved and resumed before submission.
  • Mortgage changes. Where appropriate, changes to the existing mortgage can be included as part of the combined application.
     

The modernised Halifax journey supports the majority of Product Transfer, Further Advance and combined applications. 

When does the Product Transfer start?

Once the Further Advance funds have been released, the Product Transfer takes effect from the first day of the following month.

The release date of the Further Advance funds determines when the Product Transfer takes effect. The Product Transfer will not start if the Further Advance is not drawn or released.

Before you apply

The additional borrowing must meet our Further Advance criteria.

For application and keying guidance, including when a combined application can be submitted, how to key it and releasing the Further Advance funds, see How to submit a combined Product Transfer and Further Advance.