Porting - how to

  1. Requesting information about your customer

    This guide is for Residential customers only and excludes any Buy to Let mortgages. If you need details of your customers existing mortgage, please call us on 0345 601 2744 to request this information.

  2. Choosing the right product

    As your customer is looking to port their existing mortgage balance, select the Standard Variable Rate (SVR) on your Decision in Principle in all the below scenarios. This is to ensure no fees are charged.

    Status changes - Once the application has been submitted we will revert the new mortgage to the existing product.

    Porting like-for-like or reducing the balance - your clients existing product will be transferred to the new mortgage application. No product fees will be charged however if the existing balance is decreasing, early repayment charges may be due.

    Porting with additional borrowing - a new product will need to be chosen for the additional borrowing, based on the overall LTV.  See section 3, for information on product fees. Our existing product range can be found here and the new product will need to be confirmed when completing the ‘Porting Request Form’ found here.

    Moving home, and choosing a new interest rate - this will not be treated as a porting request, and the Redemption Administration Fee of £60 will be charged when redeeming their existing mortgage. Please check if your customers existing product has an early repayment charge. See section 3 for information on existing customer product fees.

  3. Product fees

    Where a fee is due, as your customer is an existing Cambridge member, the fee payable on the new product will reflect the amount charged as if they are completing a product switch, and an application fee is not due. We will make these changes to the fee once the case has been fully submitted to us.

    The fee can either be added to the loan or paid up front. Any fees paid up front will need to be paid by debit card on submission of the full mortgage application and this will be arranged by the case packager.

  4. Submitting a Decision in Principle

    To let us know you are submitting a Porting request, please leave notes on the final section of the Decision in Principle. You’ll need to confirm the following:

                   - Existing mortgage account number

                   - Details of the porting request

    Alternatively, give us a call once the case has been referred to our Underwriting team.

    We require the Porting Request Form to be completed and returned to the Intermediary team prior to DIP decision. The form can be found here.

  5. Requesting an European Standardised Information Sheet (ESIS)

    Once your Decision in Principle has been approved, we will produce a manual European Standardised Information Sheet (ESIS) based on the information provided on the Porting Request Form. This will be provided via email within 3-5 working days.

  6. Completing your application

    Once you have your approved Decision in Principle and ESIS, you can proceed to full mortgage application on the Online Intermediary Portal by selecting the proceed button.