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What happens if a bank's new customer mortgage rates are better than its product transfer rates

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Let's say you're with Natwest and its time to renew your fixed rate mortgage. The best remortgage deal on the market (for new customers) is from Natwest. Meanwhile its product transfer rate is more expensive. Can you get the new customer rate? And if so, do you have to go through affordability checks or will it be treated as a product transfer?

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  • housebuyer143
    housebuyer143 Posts: 3,541 Forumite
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    No you can't get it, as you are not a new customer. 
  • penners324
    penners324 Posts: 2,931 Forumite
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    You'd have to apply as a new customer. 

    Conveyancing, affordability, the whole lot
  • amnblog
    amnblog Posts: 12,512 Forumite
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    No you can't get it, as you are not a new customer. 
    As above is correct
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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