Halifax has launched a new offer acceptance step into its product transfer applications, which it says will “simplify when the customer can cancel a product transfer application.”
The lender says on its intermediary news hub that from 2 February when brokers key in key in a product transfer they will “come to a new screen ‘review the offer’.”
It adds that brokers will “need to view the offer document and tick the box to confirm that the customer accepts the offer.
“Then click the ‘submit the application’ button and you will see an ‘Offer accepted’ screen. No further action is then required.”
Users can exit an offered application without accepting the offer and when they re-enter the application they will be taken to the ‘review the offer’ screen to accept the offer.
The lender points out: “Once a product transfer is offered the product is secured — if available products change or there is a change to the property’s indexed valuation — but you will need to confirm the customer accepts the offer for the product transfer to take effect.”
The firm says the effect of these changes are that:
- All product transfer offers must be accepted online
- Product transfers can be cancelled before they have taken effect, but once it has taken effect they cannot be cancelled
The lender points out that its home page application tiles will highlight an offer that has not been accepted with a red warning message.
The firm adds that after brokers receive an email to advise the offer has been produced they will not receive any further emails on this matter.
“It is important you accept the offer as soon as possible to avoid any product transfers not taking effect as intended,” the lender warns brokers.
