Product Transfer Rates - Updated November 2026
- best 2yr remortgage, the PT benchmark
- 4.82%best 2yr remortgage, the PT benchmark
- best 5yr remortgage (Halifax, £999 fee)
- 4.85%best 5yr remortgage (Halifax, £999 fee)
- average SVR if you do nothing
- 7.13%average SVR if you do nothing
- BoE Bank Rate (next decision Thu 5 Nov 2026)
- 3.75%BoE Bank Rate (next decision Thu 5 Nov 2026)
As of 3 Nov 2026, the best 2-year remortgage rate is 4.82% and the best 5-year remortgage rate is 4.85% (both Halifax, £999 fee). That is the benchmark for any product transfer offer from your current lender: if the PT rate is close, staying is usually quicker and cheaper; if it is well above, a remortgage may save more. Deals now last an average of 13 days, so compare as soon as your lender's offer arrives.
Product Transfer Benchmarks - November 2026
Swipe the table sideways to see every column.
| Option | Benchmark rate | What to check |
|---|---|---|
| Product transfer, 2-year fix | compare with 4.82% | Fee, ERCs, whether the rate is your lender's best |
| Product transfer, 5-year fix | compare with 4.85% | Fee, portability, overpayment allowance |
| Remortgage, 2-year fix | 4.82% (Halifax, £999) | Free valuation and legals are common |
| Remortgage, 5-year fix | 4.85% (Halifax, £999) | New affordability check needed |
| Do nothing: standard variable rate | 7.13% average | Moves with Bank Rate; no tie-in |
Product transfer or remortgage: what decides it
Rate gap
If your lender's PT rate is within about 0.10%-0.20% of the best remortgage rate, the savings from switching lender are usually small once fees and time are counted.
Affordability
Most product transfers need no new affordability assessment, which matters if your income has fallen, you are self-employed with a weaker year, or you have taken on new credit.
Borrowing more
Adding to the loan through your current lender is a further advance with its own rate and checks. If you need more, a remortgage can sometimes put the whole balance on one better rate.
Timing
Most lenders let you choose a PT up to six months before your deal ends. Securing one early and keeping a remortgage option open is often the safest route.
Fees and legal costs
PTs usually carry only the product fee. Remortgages often include free valuation and legal work, but take longer, typically 4-8 weeks.
Shelf life
With the average deal on sale for only 13 days, a PT offer you are sent may be withdrawn quickly. Check the expiry date on the offer.
Product transfer guides by lender
Each lender runs its own product transfer process and range for existing customers. Our lender pages explain how to apply, when you can lock in and what to compare.
Is your product transfer offer good enough? Worked example
- Do nothing: SVR at 7.13%
- £1,787.73 a month
- Best 2-year remortgage at 4.82%
- £1,435.38 a month
- Illustrative PT at 5.07% (0.25% above)
- £1,471.69 a month
- Either option saves against the SVR by
- £316-£352 a month
£250,000 left to repay over 25 years, fixed deal ending this winter.
The PT costs £36.31 a month more than the best remortgage, about £871 over two years.
The PT rate here is an illustration, not a lender's price. Whether £871 is worth switching for depends on fees, the time to complete and whether you would pass a new affordability check. Market rates as at 3 November 2026, at today's 7.13% average SVR.
Deals last 13 days on average - lock in today, review before completion
The figures above are indicative and describe the best case. Send your own scenario and we will come back the same working day with terms from the lenders that actually fit it.
- Enquiry type
- Mortgage
- About
- Product Transfer Rates
No upfront fees on loans over £1m.
What happens next
- Fill in the form. It takes about 2 minutes.
- We'll email you back with any additional questions, then match you with the right specialist for your situation.
- A specialist independent broker will contact you to discuss your situation and present options.
Enough detail to price it is the amount, the security, the purpose and how you plan to repay. The rest we can fill in on a call.
Whole of market · 130+ lenders · FCA 814533 · Same working day response
Rate context and outlook
Bank Rate is 3.75% (next decision Thu 5 Nov 2026). Most economists expect a rise to 4.00%: 54 of 63 in a Reuters poll on 15 October. Fixed rates are priced from swap rates rather than Bank Rate, so much of the expected move is already in fixed pricing: the best 2-year and 5-year fixes are now level at 4.78%, and the Moneyfacts averages are 5.97% (2-year) and 6.00% (5-year).
The average deal stays on sale for only 13 days (Moneyfacts), so a quoted rate can disappear quickly. If your deal ends in the next six months, securing a rate now and reviewing it before completion is the lower-risk approach. Trackers (best 2-year 3.99%) move with every Bank Rate change.
Reviewed by David Doulton, Director, Doulton Bridging Finance, over 20 years in property finance. Last reviewed 3 November 2026. Doulton Money Ltd t/a Doulton Bridging Finance, FCA No. 814533.
Frequently asked questions
What is a product transfer?
A new deal with your existing lender when your current fixed or tracker rate ends. The loan, term and property stay the same, so there is usually no valuation, no legal work and often no new affordability check.
Are product transfer rates the same as new customer rates?
Sometimes, but not always. Many lenders price existing-customer ranges close to their remortgage range, but some PT rates are higher. Always compare the offer with the best remortgage rates.
What is a good product transfer rate in November 2026?
One close to the best remortgage rates, which are 4.82% (2-year) and 4.85% (5-year) as at 3 Nov 2026, both at 60% LTV with a £999 fee.
How early can I book a product transfer?
Usually up to six months before your current deal ends, though some lenders allow three or four months. If rates fall before the switch date, some lenders let you change to a cheaper PT.
Do I need a broker for a product transfer?
You can go direct, but a broker can compare the PT with the whole market and, if the PT wins, often arrange it for you through the intermediary channel.
What happens if I do nothing when my fix ends?
You move to the lender's standard variable rate, averaging 7.13%. On a £250,000 balance that can cost £300 a month or more compared with a new fix.
Will product transfer rates change after the Bank of England decision?
Bank Rate is 3.75% (next decision Thu 5 Nov 2026). Most economists expect a rise to 4.00%: 54 of 63 in a Reuters poll on 15 October. Lenders reprice PT ranges with their wider fixed-rate range, often within days of a swap rate move.
Can I take a product transfer if my circumstances have changed?
Usually yes, if you are not borrowing more or changing the term. That makes a PT the main option if your income has fallen or you have had recent credit problems.
How much can I borrow?
Usually 4 to 4.5 times income, with some lenders going to 5 or 5.5 times for higher earners and certain professions, subject to affordability.
How long does a mortgage take?
A mortgage in principle takes minutes to a day; a full offer usually takes 2–4 weeks from application.
Is a lower rate with a high fee better than a no-fee deal?
It depends on the loan size. On smaller loans the no-fee deal often wins; we compare the total cost over the fixed period.
How early can I remortgage?
You can secure a new deal up to six months before your current one ends.
What documents will I need?
ID, proof of address, 3 months' payslips and bank statements, or 2 years' accounts or tax calculations if self-employed.
Where this applies
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Independent whole-of-market advice