Mover process
We have special Abbey mortgage products available for existing customers looking to move home. To benefit from these products, the customer must have an existing Alliance & Leicester mortgage account number, have less than 6 months left on their mortgage product or be free to go and fit into one of the following categories:
- Be selling their existing property and buying a new residential property in the UK where the completion is either simultaneous or within 3 months of completion of the existing property sale
- Not selling an existing property, but clearing the current mortgage through other means (i.e. savings, inheritance) and buying a new residential property in the UK
- Be an existing borrower, and is being taken off their current mortgage through a Change of Borrower (e.g. divorce/separation) and completing on a new main residence within 3 months of the Change of Borrower completion
- Letting out the current property with Santander and purchasing a new main residence
To enable you to guide your client on the most suitable option, information on the customer’s current mortgage including payment rates and ERC expiry periods can be found on their Annual mortgage Statement. Alternatively the customer can phone the Alliance & Leicester mortgage centre on 0844 800 0080.
To select an Abbey Loyal Mover exclusive product (suffix L product codes) you will need to complete the following within Introducer Internet:
1. At AIP, you must ensure you answer the question “Do you have a mortgage now?” by clicking “Yes, with Santander ”
2. At FMA, you must ensure that question ‘Porting product?’ is answered ‘No’ (as the existing A&L customer must be taking the full borrowing on this product)
3. The existing Alliance & Leicester mortgage account number must be entered on the “Present Housing” tab of the FMA.
We pay full proc fees on the total mortgage amount for existing Alliance & Leicester mortgage customers moving home and taking a new Abbey mortgage.