To calculate the percentage loan to value (LTV) when a product transfer (PT) is required, we use an indexed valuation figure which is updated quarterly by the Halifax Housing Price Index (HPPI). Ahead of the next changes to HHPI, expected in January, we wanted to take this opportunity to remind you that our online PT process allows you to produce an instant quote and illustration for your client, however the process does not allow you to save an application and resume.

If the illustration is not progressed through to offer, any future changes may have an impact on the application, for example:

• Changes to the HHPI may negatively or positively impact on the LTV;
• Products may be withdrawn as part of a rate change.

To ensure the product is secured for your client, a PT application must be progressed through to offer.

For more information, please talk to your Business Development Manager.