Retention FAQs
Our rates are not published on our website. For further information please call our Product Transfer Team on 0333 240 6180. Our opening hours are: Monday to Friday, 9am to 5pm (closed on weekends and bank holidays).
Retaining our existing customers continues to be a core focus for us. We've refreshed our products, and the pricing is now tailored using a range of loan considerations that follow our established lending credit model.
You can email us at preciseproducttransfers@precisemortgages.co.uk for their available rates or ring our retentions processing team on 03332 406180.
Where we have issued a personalised product quote (approximately 3 months before reversion), we will honour those rates for 28 days. For all other product quotes, rates will be held for 14 days.
Rates are personalised to each account and are the only ones available.
Our product transfer rates are tailored to individual mortgage accounts and may vary based on a range of account-specific commercial considerations.
The customer's profile helps us to determine which products they are offered and what pricing is appropriate.
Our products are offered at an account level.
Step 1: Ensure you’re registered to submit a product transfer application
Step 2: Submit customer authority
Step 3: Submit application by emailing preciseproducttransfers@precisemortgages.co.uk
To avoid any early repayment charges, the customer can apply for a transfer 3 months prior to expiry of their product. At this stage, they should have received their personalised rate pack. If they apply outside of this period, ERCs may be payable.
We'll write to your customer approximately 3 months before their current product is due to expire, providing information about their product maturity and the next steps. We'll encourage them to speak with you to discuss their options.
If their product has already expired and they wish to discuss a Product Transfer, please contact us on 03332 406180.
For applicable cases, a Mortgage Retention Coordinator may contact the submitting broker approximately 3 months before product maturity to discuss available options and next steps.
If you'd like to discuss a case sooner, please email brokerretentions@precisemortgages.co.uk.
Your customer will need to make sure there’s a clear calendar month between us receiving their 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 switch takes effect.
For applicable cases, a Mortgage Retention Coordinator may contact the submitting broker approximately 3 months before product maturity to discuss available options and next steps. If brokers would prefer to explore the process sooner or have any questions, they are welcome to contact the team directly on 01902 505822.
Only if the customer selects a product with a fee. The customer can pay the fee upfront or add this to their loan.
The rate quoted is the current rate available for your customer. For further information, please contact your BDM or the Retentions team on 01902 505822.
No changes have been made to distribution partners/submission routes and registration processes.
No changes have been made to procuration fee payment rates, payment run dates or methods of payment.