PMS Mortgage Club and Sesame Network have launched a new product transfer hub, promising enhanced support for advisers.

It includes a product transfer criteria grid to provide advisory firms with an insight into the timeframes and application process for each individual lender. This information will help advisers to plan and implement their customer contact programme.

The hub also provides practical hints and tips on opportunities for advisers to increase and enhance their customer engagement strategies.

There is also a toolkit of downloadable support materials to help facilitate this work, including templates to help advisers to create personalised client letters and regular newsletters, along with email and social media activity.

Jane Benjamin, director of mortgages at Sesame and PMS, said: “Product transfers are a hot topic, with 290,000 homeowners switching £39.2 billion of mortgage debt to a new product with their existing lender in the first quarter of 2019.

“We expect both product transfers and remortgage business to remain strong through the second quarter and into the second half of 2019, with analysis suggesting that over £100 billion of mortgage deals could be coming to the end of their terms.

“This is a huge refinance opportunity and customers need our support, which is why we’ve been working closely with our lender partners to help advisers look after their customers and find the right product for their individual circumstances; whether that’s switching product with their existing lender or remortgaging elsewhere.

“Our new hub gives advisory firms the guidance and tools they need, all in one place. Furthermore, with the current trend of five-year fixed rates now overtaking two-year deals in terms of popularity, it’s more important than ever for advisers to get in touch and stay in touch with their clients.”

Martin Schultheiss, group managing director at Sesame Bankhall Group, added: “Just over half of the product transfers conducted in the first quarter of this year were on an advised basis, but that still leaves 44% that were execution-only, so there’s an opportunity for our profession to build further on the good work taking place.

“Here at Sesame and PMS we’re committed to championing the role of the adviser across all areas of a customer’s financial needs and goals. Not only will this deliver the right outcome for the customer, but it will also help to future proof advisers’ businesses for the long-term.”