Product Transfers
Product Transfers: Exclusively through the intermediary market
Product Transfers are exclusively available through intermediaries providing you with access to a range of Buy to Let and Residential products to meet your customer needs.
To start the process you will need authority to act on your customer’s behalf. You can provide this over the phone on 0333 240 6180 or by completing our Product Transfer Letter of Authority. To find out more about our Product Transfer process click here.
Once you have this authority, simply call us on 0333 240 6180 and we will confirm if a Product Transfer is available for your customer.
Our products
Buy to Let Mortgages - all schemes
| Product type |
Term |
Rate |
Fee |
ERC |
Reversion rate |
| LIBOR Tracker |
2 years |
3.29% |
£0 |
4%, 3% |
5.75%
(LIBOR + 4.84%) |
| 2 year Fixed |
2 years |
3.49% |
| 5 year Fixed |
5 years |
3.89% |
4%, 4%, 3%, 3%, 2% |
LIBOR 0.91% set on 12.12.2018
Residential Mortgages - all schemes
| Product type |
Term |
Rate |
Fee |
ERC |
Reversion rate |
| LIBOR Tracker |
2 years |
4.09% |
£0 |
3%, 2% |
5.75%
(LIBOR + 4.84%) |
| 2 year Fixed |
2 years |
4.19% |
| 5 year Fixed |
5 years |
4.59% |
3%, 3%, 2%, 2%, 1% |
LIBOR 0.91% set on 12.12.2018
Frequently asked questions
Can my customer come to you directly to ask for a Product Transfer?
In support of our intermediary partners Product Transfers are available exclusively through intermediaries and customers will not be able to access these products directly.
Can I submit a Product Transfer if I didn’t advise on the original mortgage?
Yes, you will be able to make an enquiry for any Precise Mortgages’ customer providing they have given authority for you to act for them and you have registered with us.
Will I receive a proc fee for arranging a Product Transfer?
Yes, we will pay 0.25% if you submit direct. If you submit via a Club or Network we will pay 0.3% to them for onward dispersal.
Do the products cover all Buy to Let and Residential schemes?
Yes, the Buy to Let products cover all Buy to Let schemes (including Limited Company and HMO) and Residential products cover all Residential schemes (including Help to Buy and Right to Buy).
If a customer has arrears, will they be eligible for a Product Transfer?
We are not able to offer a Product Transfer to customers if their account is not up to date. Please contact us to discuss if your customer is eligible for a Product Transfer.
Can a customer complete a Product Transfer if they are within their Early Repayment Charge (ERC) period?
We will accept applications up to 3 months before the existing product rate (and the ERC) expires and the Product Transfer can then be set to complete on the day of expiry. However, the customer won't be able to complete a Product Transfer during the Early Repayment Charge period.
I’m not registered with Precise Mortgages, am I able to submit Product Transfers?
You will need to register with us before you are able to submit a Product Transfer. For details on how to do this
click here.
Can I submit a Product Transfer application online via the Broker portal?
Product Transfers are not currently available online, you will need to call or email us to request a Product Transfer. All we need to start the process is authority from the customer for you to act on their behalf, this can be done over the phone or by completing our
Product Transfer Letter of Authority.
What if my customer changes their mind about the Product Transfer?
If the customer no longer wishes to proceed and has not returned the offer acceptance to us, then simply give us a call and we will update our records.
If the customer has accepted the offer they are able to cancel the Product Transfer up until the day the new product is due to take effect.
Can a customer make changes to their account as part of the Product Transfer?
If a customer wishes to make changes to their account such as the term or repayment method, these changes can't be made at the same time as the Product Transfer. However, they can be completed before or after the Product Transfer takes place.
Can my customer overpay or make a lump sum payment as part of the product transfer?
Yes, if the customer wants to overpay or make a lump sum payment as part of the Product Transfer, we will waive the Early Repayment Charges (ERCs) during the last 10 days of their existing product, so long as we have received the Product Transfer acceptance form from the customer.
