Product transfers - what's the opportunity?
2022 sees a significant increase in the opportunity for re-finance as the number of deals that are coming to an end during the year is up 18% on 2021 and worth a huge £328bn.
The largest individual month is January with nearly £40bn rolling off, with other spikes in April, June, September, and October.
In 2022, there will be c550,000 First Time Buyers coming to the end of their mortgage for the first time, which equates to £72bn, and all of these customers will be looking for advice and support from you.
Our product transfer grid is a quick reference guide that gives you information that will allow you to keep ahead and contact your customers before their existing product comes to an end.
Make the most of this re-mortgage and product transfer opportunity with the tools and templates below.
Why not take this opportunity to review their protection and GI too? This is a great way to keep in touch with your customer regularly.
*Source: CACI’s Mortgage Market Database