Skip to content

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

FOR THE USE OF MORTGAGE INTERMEDIARIES & OTHER PROFESSIONALS ONLY

Portability

Keying porting applications

When keying the case to TSB Mortgage Pro, add an applicant and select “Existing TSB Borrower”. Our TBDM Team will provide guidance on keying, next steps and how the process works.

Please contact our Telephone Business Development Team on 0345 307 3355 (option 3) for more information.

Early Repayment Charges (ERCs)

Simultaneous porting

  • If the porting is simultaneous, i.e. the new loan starts on the same day the existing one is redeemed, our processing team will add a note to the offer to ensure that ERCs are waived – please ensure you let us know that the transactions are planned to be simultaneous.
  • Where a customer is porting a reduced amount, the full ERC will be waived. If the customer is porting <90% but wants to take additional borrowing which would cover the amount they are not porting, then the ERC would be due on the amount the customer is looking to take on the new product.
  • If the new mortgage is for a smaller amount, the ERC must be paid in full on redemption of the old loan. A partial refund can be requested after completion based on the difference of the two mortgages.

Non-simultaneous porting

If the redemption and completion of the existing and new mortgage are not simultaneous:

  • The applicant will be required to pay any ERCs at the point of redemption. Once the new mortgage completes, eligible applicants can request a refund of any ERCs paid. 
  • A new mortgage application must have been started within a maximum of three months from the date of the redemption of the existing mortgage to qualify for refund of the ERC’s (for account numbers starting with 20 or 40).
  • Loans with account numbers beginning 50, 30, 77 and 87 may have different rules. Please check with us.

More porting information

  • Applicants on a fixed rate, within the last three months of their product end date will not incur an ERC if they make overpayments over the 10% threshold.
  • Applicants porting less than 90% of their mortgage balance are not required to pay the ERC upfront and receive a partial refund. Instead, the ERC will be waved in its entirety.
  • You can usually obtain an ESIS for ported products from the TSB Mortgage Pro system – if your scenario isn’t supported please call us on the above number and we will help.
  • Proc fees apply to the total amount of the new loan, not just top-up borrowing.
  • Portable products are available up to our maximum loan to value limits at the time of applying.
  • Mortgage Pro allows you to port a scheme product to a non schemed mortgage and a non schemed product to a schemed mortgage.
  • Buy-to-Let products cannot be ported onto a residential property and residential products cannot be ported onto Buy-to-Let properties.