Nearly time for a product switch?
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 Our rates can be withdrawn without prior notice.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.