Terms and Conditions of your online product transfer
Please read through the following information carefully before you complete your product transfer online
Digital Authorisation – By submitting the request to complete a product transfer online, you’re giving us digital authorisation to transfer your existing mortgage account onto a new chosen product. No written signatures are needed to complete a product transfer online.
Joint Applicants – Where there is more than one borrower the digital authorisation of one borrower will be accepted on behalf of all parties to the existing mortgage. You (the applicant) must make sure that all borrowers know about and agree to this product transfer application.
Electronic Documents – When you arrange a product transfer online, you won’t be sent any documentation by post, you’ll need to download and save all documentation provided. You must make sure if there is more than one borrower, all documentation is shared with all borrowers.
Product Transfer Dates – When you arrange a product transfer online, you’ll be asked to choose one of the product transfer dates that we provide. If you’d like to discuss a different product transfer date, just get in touch with us.
Monthly Payment – The monthly payment and date of the transfer might not be the same as the one that’s written in the Offer document. We’ll work out your monthly payment using the actual mortgage balance and term as at the date of the transfer. We’ll write to you straight after the transfer, to let you know what the new monthly payment and transfer date will be.
Products – Availability of products is limited and subject to eligibility. Products could be withdrawn at any time. So as to avoid disappointment, we suggest you complete your application as soon as you can.
Execution only – When you apply for a product transfer online you’ll be completing the application on what’s known as an ‘execution-only’ basis. This means you’re making all the decisions about the suitability of this product for yourself and you won’t be given any advice from Coventry Building Society.
Data Retention – When we don’t need your data any more, we’ll destroy it safely and securely, in line with our rules on how long we keep your data. If you’d like more information about how long we keep information, email us at this address: Data.ProtectionOfficer@thecoventry.co.uk.
Fees – Fees (where they apply) may be payable during application.
Supporting information - All borrowers must make sure they download, read and save all of the following documents for future reference:
- Tariff of Mortgage Charges
- Your mortgage – what you need to know leaflet
- Moving your mortgage to a new property
