FREQUENTLY ASKED QUESTIONS
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Money Worries FAQs
There are a number of free and independent sources you can refer to for advice, including:
MoneyHelper
Get free impartial advice from moneyhelper.org.uk
Call: 0800 138 7777
Money Advice
If you live in Scotland, to speak to an adviser via webchat visit: Money Advice Scotland
Alternatively, you can email: webchat@moneyadvicescotland.org.uk or call: 0141 572 0237
There are also a number of other free debt advice agencies that you can contact:
Call: 0800 138 1111 (Monday to Friday, 8am to 8pm, Saturday 8am to 4pm)
Call: 0808 808 4000 (Monday to Friday 9am to 8pm)
Adviceline (England): 03444 111 444
Adviceline (Wales): 03444 772 020
Textphone: 18001 03444 111 445
(Monday to Friday 9am to 5pm)
For advice on general financial matters (including state pension information, disability and ill health benefits, grants, money and tax etc) the UK Government’s own website might be useful: gov.uk
For anyone experiencing a mental health problem, MIND provides a wide range of advice and support – including a section on ‘money and mental health’ mind.org.uk
Call: 0300 123 3393 (Monday to Friday 9am to 6pm (except Bank holidays).
You can use the IEHub tool to make updates at any point and share them with your creditors if your situation changes.
The three main Credit Reference agencies, as detailed below, all have various pages on their websites around general help and advice and also “understanding your credit score”.
Equifax
(Member Centre) 0800 014 2955
(Monday to Friday 9am to 5pm)
Experian
Call: 0800 013 8888 (Monday to Friday 8.30am to 4.30pm)
TransUnion
Call: 0330 024 7574
(Please be advised that some of the services provided by these companies may involve you paying a fee or charge)
Product Transfer FAQs
A Product Transfer is when you move from your current fixed or tracker rate mortgage product to a new mortgage product with the same lender. This is usually when the initial rate term is coming to an end or has ended.
Product Transfer is generally a more simplified approval process by staying with us. This can save you time and reduced administrative processes when compared to moving to a different lender. You can potentially save money on fees such as valuation fees or solicitor fees.
You will be able to choose between a 2-year and 5-year fixed rate product.
We can only accept a Product Transfer application once you have received advice from a qualified mortgage adviser.
Your mortgage adviser will advise if a Product Transfer is the best option for you. If they do, they will submit the Product Transfer Request to us via our online portal. If you are eligible for a Product Transfer your mortgage adviser will produce a Product Transfer Offer which they will provide you with a copy and go through with you.
If you decide to proceed with a Product Transfer, your mortgage adviser will accept the Product Transfer on your behalf and select a date for your new rate to take effect from.
We will write to you within 5 days of your mortgage adviser accepting the offer detailing your new product and payment and when this will take effect from.
Once a Product Transfer offer has been accepted the terms are locked in and it cannot be changed or cancelled without incurring an early repayment charge.
You may be eligible for a Product Transfer subject to the following criteria being met:
You do not want to make any fundamental changes to your mortgage such as increasing your balance, moving home or adding / removing a party.
You are up to date with your payments and haven’t missed any payments in the last 12 months.
If you have an up-to-date account with no current arrears balance but have had historical missed payments in the last 12 months, we will consider a Product Transfer. On the basis that the last 3 months payments have been met and an up-to-date Affordability Assessment is undertaken.
The Product Transfer will not take place until your current fixed rate period has come to an end.
If you meet the eligibility criteria, you will not be required to provide any supporting documentation other than a few simple forms which your mortgage adviser will assist you with.
Your mortgage payments are due on the 1st of each month. For any new interest rate and associated monthly payment to take effect on the 1st of the following month, your mortgage adviser must accept the Product Transfer on your behalf no later than the 19th of the month. If it is received after the 19th of the month, the new interest rate will not be processed in time for the 1st of the following month.
Illustrative Example:
Offer Acceptance received by date: | New Interest Rate effective date: |
19th October 2023 | 1st November 2023 |
After 19th October 2023, but before 19th November 2023 | 1st December 2023 |
We will write to you to let you know how much your payments will be and on which date these will start.
Please contact your mortgage adviser for any support related to the Product Transfer process. They will be able to talk you through the process.
If you are struggling with your current mortgage payments, or think that you might struggle in the future you can find out more information on our Money Worries page.
If you need help to find a qualified mortgage adviser in your area, visit www.unbiased.co.uk or call them on 0800 023 6868.
Customer Complaints FAQs
If you’re unhappy with our service, please let us know.
A leaflet is available which provides details of our customer complaints procedure. We'll send this to you if you ask us, or if you make a complaint.
We value your opinion and take all complaints very seriously. If something has gone wrong we will do whatever we can to put it right. If you'd like to make a complaint, you can contact us or email CustomerResolution@shawbrook.co.uk.
If you'd prefer to send your complaint to us by post, you can write to us at the following address:
Complaints team
Shawbrook Bank Limited
Lutea House
Warley Hill Business Park
The Drive, Great Warley
Brentwood
Essex
CM13 3BE
The Mortgage Lender is powered by Shawbrook Bank.
If you're making a complaint or raising a dispute on behalf of someone else (if you're from a claims management company, or making a complaint on behalf of a family member for example), please use our dedicated third party complaint form.
We treat any complaints raised by a claims management company as if you'd raised it yourself. However, they may charge you a fee for their services.
If you're a customer, you can make a complaint easily, and for free, by emailing CustomerResolution@shawbrook.co.uk
You have the right to refer your complaint to the Financial Ombudsman Service, free of charge – but you must do so within six months of the date of your final response letter.
If you don't refer your complaint in time, the Ombudsman won't have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances.
Further information can be found at:
www.financial-ombudsman.org.uk/consumer/complaints.htm
The Financial Ombudsman Service
Exchange Tower
London
E14 9SR
Free Phone Number: 0800 023 4567
Low Cost Number: 0300 123 9123
Bereavement Help FAQs
We use the Death Notification Service to make it easier for you to tell us someone has died. They'll ask you which participating organisations you want them to inform, and they'll handle much of the administration work for you.
You'll only need to provide one death certificate to them and they'll confirm it for us and any other participating organisations.
No, the service is free for anyone making a notification.
You can find out more about the service by visiting www.deathnotificationservice.co.uk.
The 'Tell Us Once' service is a service that lets you report a death to government organisations only. The Death Notification service allows you to tell private sector organisations like Shawbrook of a death.
The Death Notification Service should be used in conjunction with the Tell Us Once service, and they aren't linked.