As we navigate increased complexity across the mortgage market and witness a shift in borrowing behaviours, getting the right advice is becoming more valuable than ever. This increasing reliance on brokers is also unlocking new opportunities, particularly in the realm of refinancing and in maximising the value of product transfers (PTs).
According to UK Finance, refinancing activity declined by 13% in Q1 2025, largely due to fewer fixed-rate maturities early in the year. However, eight in 10 borrowers who did refinance chose a PT.
While historically PTs have been more common in mainstream lending, the growing presence of specialist lenders in this area has expanded the conversation to a broader client base.
In principle, PTs should be straightforward. And they are for many, particularly when brokers and lenders collaborate effectively. Yet for clients with more specialist needs, the reality is not always simple.
The belief that PTs require minimal advice can be especially misleading in the specialist space.
A landlord may have transitioned from a straightforward buy to let into more complex situations – like converting a property into a house in multiple occupation (HMO), restructuring under a limited company, experiencing credit changes or some divestment within their portfolio. These developments can push them outside the scope of traditional PT channels and without the right support, may lead to missed opportunities or poor outcomes.
This is where specialist lenders offer distinct advantages. Many, including Foundation Home Loans, have tailored their PT processes to keep brokers at the centre of the transaction. Our own approach requires no affordability reassessments or solicitor involvement and is built with brokers in mind.
The benefit of continuity, in terms of working with a lender who already understands the borrower and property, can turn PTs into a powerful tool for client satisfaction, often resulting in a smoother, more efficient experience for all parties involved.
It’s a misconception that a client’s need for specialist support ends once their initial deal completes. In fact, as highlighted earlier, their situation often becomes more complex. More landlords are adapting, diversifying, and responding to market conditions by shifting into short-term lets, mixed-use properties, or expanding portfolios.
Bringing these cases back to the mainstream at maturity can trigger affordability barriers, valuation issues, or unnecessary delays.
Continuing the journey with a PT from the original specialist lender can simplify this process and keep momentum going. By staying with the original specialist lender, brokers can avoid the disruption and ensure consistent, tailored support for their clients.
Specialist skills
Specialist lenders thrive on assessing clients as individuals. Whether the case involves unique property types, layered income sources, or complex ownership structures, the sector’s manual underwriting approach allows for a level of nuance that high street lenders often lack. This makes the option of a product transfer with the originating lender not just convenient, but increasingly vital to ensuring positive outcomes.
For brokers, control and client retention are paramount. Some mainstream lenders exclude brokers from the PT process, increasing the risk of client attrition. In contrast, specialist lenders recognise and protect their role. At Foundation Home Loans, we not only pay procuration fees for PTs, but also provide broker-led servicing, ensuring brokers remain the client’s key contact throughout the process.
This protection of both relationship and revenue stream is critical, especially when borrowers are unaware of their PT eligibility or assume they need to remortgage from scratch. With clear guidance, brokers can show that PTs are not only an option, but often the right one. By guiding clients through the PT journey with the same lender, brokers can reinforce their value and build long-term loyalty.
As specialist lending continues to expand, those who support their clients across the full mortgage lifecycle will stand out. It’s no longer just about placing the initial loan, but about managing transitions effectively, particularly within lending frameworks already proven to work.
Ultimately, specialist PTs are not about taking shortcuts. They are about delivering consistent, considered advice that evolves with the client’s circumstances.
For landlords, they provide a seamless route to a new deal without starting over. For brokers, they offer a powerful way to strengthen relationships, simplify outcomes, and remain at the heart of every smart mortgage journey.
Grant Hendry is director of sales at Foundation Home Loans
