Mortgages · Product Transfer
Product Transfer
Helping users make confident decisions when switching mortgage products
1. Challenge
Context
When a fixed mortgage deal is coming to an end, users need to choose a new rate within a 3–6 month window. This is called a product transfer and lets them switch deals without applying for a new mortgage. During this time, banks remind users their current rate is ending because if they don’t act they’ll usually be moved onto a higher default rate. So there’s something in it for both sides: users get the chance to lock in a better deal early and banks get a chance to keep them from switching elsewhere. This makes timing really important and the experience needs to clearly show users what they can do and when.
Problem
Switching a mortgage product isn’t straightforward. Users need to compare options, understand new terms and make decisions that can affect them for years. Many don’t realise they can switch rates or they simply forget to act when their deal is ending, which can leave them on a higher default rate without really understanding why.
Even when they do start the process, it’s not always clear what to do next. Depending on when they enter, they might see different options, making it hard to know if they should act now or wait. On top of that, choices are limited and some users may not be eligible at all, which adds to the confusion.
The challenge was to reduce this uncertainty and help users feel confident making a decision without oversimplifying a complex financial process.
Constraints
There were a few strict rules that shaped the experience. Users can only switch their mortgage in the 3–6 months before their deal ends. If they try outside of that time they can’t do it online and have to call the bank. They also can’t borrow more money so they’re only choosing a new rate while some users might not be able to switch at all.
Approach
The delivery window meant choosing where to spend the time. Scenario mapping and sketching got most of it since the hard part on this project was working out what a user should see depending on when they arrive in the 3 to 6 month window. Everything else stayed lean, drawing on the mortgage PM’s knowledge of the lending rules and eligibility.
2. Discover
I worked closely with the mortgage PM and engineering team throughout. The PM brought the lending rules and eligibility logic that shaped what was possible, and engineering flagged technical limits early so the design was realistic rather than something handed over at the end.
3. Define
User definition
This is designed for the homeowner whose fixed deal is about to end. They are not mortgage specialists. Most have done this once when they took the mortgage out and now they are being asked to choose again with only a few months to do it.
Insights synthesis
Three things kept coming up. People do not always realise they can switch and they drift onto a higher default rate without understanding why. Timing changes what they see so the same journey looks different depending on when they arrive. And the decision holds for years, which makes a quick tap through the flow the wrong outcome even when it looks like success.
That set the priorities for the design:
- Make the timing and the consequence of doing nothing obvious
- Make comparing rates manageable rather than overwhelming
- Make the final decision deliberate
User journey
Entry point drives everything. A user arriving four months before their deal ends sees a different set of options from one arriving four weeks out and one arriving too early cannot switch online at all. I mapped the journey around those scenarios so the flow could tell each user where they stood before showing them anything to choose from.
4. Ideate
Sketching
The decision itself is narrow. Users are only choosing a new rate meaning every extra step is a step that gets in the way. I sketched the scenarios first, then the layouts and components, keeping the flow as short as the decision allowed.
Wireframes
I also worked through the case where a user’s mortgage details are out of date, giving them a way to review and update their information before continuing rather than blocking them at the point of decision.
5. Implement
1. Encouraging intentional action before showing rates Instead of showing all available rates immediately, I introduced a clear action for users to explore better options. This was done to encourage active engagement, rather than passive browsing, given the importance of the decision.
2. Supporting comparison through filtering and sorting Users can see a range of available rates, so I added filtering and sorting options to help them narrow down choices based on factors like rate type and duration.
3. Keeping users in context with a side modal Instead of navigating to a new page for more details, I used a side modal so users can view additional information and access support without losing their place in the flow.
4. Adding friction at the decision point Selecting a new rate is a significant financial decision, so I introduced a confirmation step with a summary and explicit user confirmation to prevent accidental choices.
5. Reinforcing consequences early The experience highlights the standard variable rate upfront, helping users understand what happens if they don’t take action.
This resulted in a clearer and more guided experience, helping users understand their options, compare products more confidently and move through the process with less friction. The final designs brought these improvements together in a way that balanced clarity, usability and business needs.
6. Outcome
The final experience makes the process easier to follow by guiding users from understanding their current rate to selecting a new one. By keeping the journey focused on comparing rates and removing unnecessary steps, it becomes easier for users to make a decision.
Filtering and sorting help users go through the available options more easily, while the side modal lets them see more details without losing their place. The confirmation step makes the decision more deliberate, which is important for something with financial impact. Overall, these improvements helped shape a clearer and more usable experience that supported adoption across 4 client implementations.