Saffron for Intermediaries has launched a broker-initiated product transfer service.

The service, available for customers with mortgage deals expiring from January 2025, also offers brokers a 0.35% procuration fee on all eligible product transfers.

Brokers can initiate the product transfer process via the online portal, using the authentication code sent to customers three months before their current deal expires. The procuration fee will be paid within two weeks from completion.

There are no application fees, legals, valuations or affordability checks for customers.

Saffron for Intermediaries head of business development Tony Hall says: “Product transfers have been one of the most requested features from our brokers, so we’re making it happen with a competitive 0.35% procuration fee, recognising the significant role brokers play in helping us retain our customers.”

“We listened closely to their feedback and created a simplified product transfer process that allows brokers to offer customers access to competitive rates across our retention product range.”