Nearly time for a product switch?
We offer personalised retention rates, which may be withdrawn without notice. For more details, view our FAQs here.
If your customer's product is nearing its end date, we issue a personalised quote approximately 3 months before reversion. Please ask your customer to share this quote with you.
If it isn't available, you can obtain the latest rates by emailing [email protected] or calling our Product Transfer Team on 0333 240 6180.
- We offer tailored retention rates, issued roughly 3 months before your customer's current product ends.
- If your customer does not have their personalised quote available, you can request the latest rates by emailing [email protected] or calling our Product Transfer Team on 0333 240 6180 (Monday to Friday, 9am-5pm; closed weekends and bank holidays).
- Existing customers whose product is due to end.
- Most customers outside any early repayment charge period can transfer, but not all will have this option available. We’ll run some initial checks on the customer’s account (for example, making sure their account is up to date) and let you know if a product transfer is available for them.
- We can accept product transfer applications from 3 months before the existing product ends.
Follow these steps to submit a case.
In October 2025, the Renters’ Rights Act received Royal Assent and introduced changes to strengthen tenant protection and raise standards across the private rented sector. These changes by their nature have a direct impact on landlords and could influence their growth strategies and borrowing behaviour.
Here’s an overview of the new legislation and how the changes could influence how brokers advise as well as highlight key considerations with their landlord customers.
How the Renters’ Rights Act could affect landlords
Good news: despite the proposed changes to legislation, 62% of the landlords asked in the latest Landlord Leaders survey from Rely shared their optimism at operating as a landlord in future, which is up significantly from 47% in 2025.
Mortgage brokers will play a key role in helping landlords navigate the new legislation, as well as understand which lending criteria can help their future journey in the private rented sector to go smoothly.
Below are a few key highlights that brokers may want to include in conversations with their landlord customers.
The Act will be introduced in three phases:
Phase 1: From 1 May 2026
- Section 21 ‘no-fault’ evictions have been abolished
- Introduce Assured Periodic Tenancies in the PRS
- Possession Grounds reform to create more balance between landlords and tenants
- Limit rent increases to once a year
- Ban on rental bidding and rent in advance
- No discrimination against tenants with children or those on benefits
- Landlords must consider rentals to tenants with pets
- Strengthen local council enforcement – Local authorities will have more power when it comes to investigating breaches and larger penalties will be implemented to strengthen the importance of the reforms
Phase 1: Broker considerations
Landlord customers are likely to be increasingly interested in lender appetite, risk tolerance and exit strategies. It’s worth brokers getting as clued up as possible on criteria by speaking to their BDMs to make sure they’re able to paint an accurate picture for their customers. The new possession rules attempt to balance tenant protection with the landlords’ needs. Brokers may find that this ruling affects short-term investment strategies and sales intended for quick turnarounds. It’s important for brokers to speak to all of their landlord customers, regardless of portfolio size, to make sure they’re aware of these important changes.
The changes may result in changes to rental income growth, which could impact affordability calculations and change the number of options that brokers can access when refinancing. It’s important that brokers speak to their landlord customers at the earliest opportunity in order to help understand the potential impact on rental income as rental increases will be more restricted under the new regime.
Landlords and agents will no longer be allowed to accept offers above the advertised rent or request more than one month’s rent in advance. This will have a direct impact on the rental yield calculations for affordability assessments, so it’s important that this is considered before submitting an agreement in principle. This is a model that many landlords are already using, so brokers may find that this impacts the smaller accidental landlords who may be new to the sector and therefore need more support in navigating the changes.
These reforms also mean landlords will no longer be able to discriminate against certain tenant demographics. It may fall to brokers to remind landlords and reassure lenders on the importance of aspects like insurance, arrears management, or income stability.
Phase 2: From late 2026
Phase 2 is due to be implemented in two key stages:
- Roll out of the PRS Database – stage 1
- Establish the PRS Landlord Ombudsman – stage 2
The PRS Database registration will be mandatory for all PRS landlords, and they will be required to pay an annual fee and provide key information. Stage 2 will enable a form of public access and sharing of this database.
The Ombudsman will provide a resolution service for private rented sector tenants but also support landlords with tools, guidance and training on handling complaints from tenants.
The Ombudsman scheme will be mandatory for PRS landlords and landlords will be required to fund the service through a charging model to be determined.
Phase 2: Broker considerations
It may be useful for brokers to remind their landlord customers about the importance of Phase 2 and its impact on maintaining their registration for the database and the Ombudsman.
It’ll be important for brokers to stay ahead of the Phase 2 changes to make sure they can advise their landlord customers well in advance of any deadlines and by keeping in touch with specialist buy to let lenders such as Rely brokers can keep themselves ahead of the curve.
Phase 3: A new Decent Homes Standard in the PRS (timings yet to be confirmed)
- The Decent Homes Standard will introduce a minimum standard of housing quality and provide local councils with powers to take enforcement action if PRS properties fail to meet it.
- Extend Awaab’s Law to the PRS, setting clear legally enforceable timeframes within which PRS landlords must make homes safe where they contain serious hazards.
Phase 3: Broker considerations
Brokers could see an increase in capital-raising remortgages or further advance requests to fund the improvements needed to meet these new Phase 3 standards.
The extension of Awaab’s Law to the PRS will mean that serious hazards like damp and mould will need to be investigated and fixed on much stricter timelines. This may result in increases to maintenance costs that landlords hadn’t anticipated.
Similarly to the Decent Homes Standard, brokers may also see an increase in buy to let investors who rely on refinancing to fund these projects. Rely’s latest Landlord Leaders study shared that just over 50% of professional landlords are using their savings to fund energy improvements.
Buy to let mortgage brokers may find that lenders start to introduce stricter due diligence, and that the involvement of accidental landlords in the PRS becomes less and less.
Understanding the regulations and compliance that comes with buy to let lending will become part of the advice investors will rely on brokers for and that’s where specialist lenders can really step up to the plate.
Step 1: Register
Before we can start the process, you’ll need to register with Precise.
Step 2: Provide your authority
We’ll also need authority from the customer allowing you to act on their behalf. Until we receive their authority, we’re unable to secure a rate for the customer. Please note, we don’t accept digital or electronic signatures.
The quickest way to do this is to ask the customer to call us and give their authority verbally over the phone. Simply ask them to call our Product Transfer Team on 0333 240 6180 and we’ll register their authority directly onto our system. You can then start discussing the customer’s product transfer requirements with us straight away.
Our opening hours are: Monday to Friday, 9am to 5pm (closed on weekends and bank holidays).
Alternatively, you can ask them to complete our Product Transfer Letter of Authority. Once you have this, email it to us at [email protected] and we’ll be in touch within 5 working days.
Please ask the customer for sight of the product quote issued to them.
Step 3: Contact us
Just let us know which product the customer has selected.
We’ll accept requests for a product transfer after the customer has received their mailing pack, including their product quote. Please contact us if you don’t have this.
We’ll run some initial checks on the customer’s account in line with our criteria and let you know if they are eligible and if the chosen rate is available for them.
Step 4: Product documentation
Single product
If you choose a single product, we’ll issue both the Mortgage Illustration and the Offer to you, and a copy of the Offer will also go to the customer.
Multiple products
If you select multiple products, we’ll issue Mortgage Illustrations for all selected options to you. Once you confirm which product the customer would like to proceed with, we’ll then issue the Offer to you, and a copy of the Offer will also go to the customer. Our rates can be withdrawn without prior notice. The rate is only secured once an Offer has been issued.
Note: Changes to the customer’s account, such as amending the term or repayment method, may be considered subject to internal assessment, but would need to be completed either before or after the product transfer completes.
Step 5: Completion
We’ll need to receive the Acceptance of Offer signed by all borrowers prior to the Offer valid end date. Please note, we don’t accept digital or electronic signatures.
The customer will need to make sure there's a clear calendar month between us receiving the signed Acceptance of Offer and the product transfer completing.
If we don’t receive your instructions within this time, the account will move to a variable rate in line with the mortgage terms until the product transfer takes effect.
If the customer makes a lump sum overpayment in the last 10 days before the fixed rate expires and we’ve received the Acceptance of Offer, we won’t charge the Early Repayment Charge.
The customer can change their mind about a product transfer before the day the new product is due to take effect. Simply give us a call and we’ll update our records.
Step 1: Register
Before we can start the process, you’ll need to register with Precise.
Step 2: Provide your authority
We’ll also need authority from the customer allowing you to act on their behalf. Until we receive their authority, we’re unable to secure a rate for the customer. Please note, we don’t accept digital or electronic signatures.
The quickest way to do this is to ask the customer to call us and give their authority verbally over the phone. Simply ask them to call our Product Transfer Team on 0333 240 6180 and we’ll register their authority directly onto our system. You can then start discussing the customer’s product transfer requirements with us straight away.
Our opening hours are: Monday to Friday, 9am to 5pm (closed on weekends and bank holidays).
Alternatively, you can ask them to complete our Product Transfer Letter of Authority. Once you have this, email it to us at [email protected] and we’ll be in touch within 5 working days.
Please ask us for a product quote detailing the customer’s eligible products.
Step 3: Contact us
Just let us know which product the customer has selected.
We’ll run some initial checks on the customer’s account in line with our criteria and let you know if they are eligible and if the chosen rate is available for them.
Step 4: Product documentation
Single product
If you choose a single product, we’ll issue both the Mortgage Illustration and the Offer to you, and a copy of the Offer will also go to the customer.
Multiple products
If you select multiple products, we’ll issue Mortgage Illustrations for all selected options to you. Once you confirm which product the customer would like to proceed with, we’ll then issue the Offer to you, and a copy of the Offer will also go to the customer. Our rates can be withdrawn without prior notice. The rate is only secured once an Offer has been issued.
Note: Changes to the customer’s account, such as amending the term or repayment method, may be considered subject to internal assessment, but would need to be completed either before or after the product transfer completes.
Step 5: Completion
We’ll need to receive the Acceptance of Offer signed by all borrowers prior to the Offer valid end date. Please note, we don’t accept digital or electronic signatures.
The customer will need to make sure there’s a clear calendar month between us receiving the signed Acceptance of Offer and the product transfer completing.
We’ll notify the customer of the product transfer effective date.
The customer can change their mind about a product transfer before the day the new product is due to take effect. Simply give us a call and we’ll update our records.