Do you allow overpayments on a product transfer?

Yes, overpayments can be made on a product transfer.

There is no limit to how much you can overpay when applying for a product transfer with an overpayment. The loan must still meet the minimum loan amount for the product selected.

At the end of your fixed period, or if you are on the Standard Variable Rate (SVR), you can request an overpayment as part of your product transfer application. The broker will enter the amount by which you wish to reduce the loan and advise you on the documentation required.

Once the offer has been issued, we will confirm where and when to send the overpayment funds.

• If the loan has not yet reverted, funds are required by the 22nd of the month of reversion.
• If the loan is already on SVR, the overpayment must be made at the time of offer.

Documentation required

You will need to provide evidence to verify the source of funds used for any overpayment or balance reduction. This may include recent bank statements or other documents demonstrating the legitimate origin of the funds.

This requirement is in line with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended.

Failure to provide satisfactory evidence may result in delays or an inability to proceed with your request.