TSB has introduced Rate Switch, its new product transfer service.

It was launched earlier than expected, as a December introduction had been pencilled in.

Roland McCormack, TSB’s mortgage distribution director, said: “We’ve strengthened our commitment to brokers with the launch of our product transfer capability service, Rate Switch.

“Our new service not only allows brokers to offer their clients more availability and choice in the buy-to let market and residential (five-year) markets but also gives some customers the option to easily transfer from one TSB product to another, giving them competitive rates with no legal or valuation fees.

“We would like to thank our brokers for their continued support in helping us launch Rate Switch.”