NatWest for Intermediaries has improved its product transfer process for broker clients.

The lender is now offering product switch straight through processing (STP) via its intermediary channel. 

It says the variation agreement and European standardised information sheet (Esis) are automatically generated and emailed to the broker within an hour of the application being submitted.

Borrowers will be sent an email at the same time with instructions on how to accept their new rate online.

Both customers and their brokers will receive real-time updates as their application progresses. 

Borrowers will also be able to cancel their product switch online if they need to do so and brokers will also be able to do this if they were the one to initiate the application.

In some cases where straight through processing is not possible and the existing procedure will be used instead. 

This means that the documents will be produced manually and issued via Adobe e-sign.