Product Transfers

You can now earn a procuration fee of 0.20% for residential and Buy to Let product transfers

Product transfers can be processed up to 14 weeks prior to your clients maturity date

To find out the details of your clients’ existing mortgage and/or request a Mortgage Illustration please call our Intermediary Retention Team on 0330 333 5542. Alternatively, any requests can be emailed to retentions@principality.co.uk

A change to mortgage term can be actioned in conjunction with a rate change.

Once you have your clients’ permission to proceed, please call or email the Retention Team to confirm.  Your Intermediary Retention Team will action the rate change on your behalf and send the confirmation directly to your client.

If contacting us by email, we aim to respond to any email requests within 2 working days subject to the request being received before 3pm. 

*Please note if your client’s rate end this month, we will require an email confirming the client wishes to proceed by the 20th to process for the following month*

If you have any queries please contact us on 0330 333 5542.

 
What happens if my client disagrees with the valuation figure?

We will work from your client's original valuation or the HPI, whichever is the higher. If your client disagrees you can input their figure on the KFI request along with a brief rationale for our consideration.

Can I change my client's term?

Yes, you can amend your client's mortgage term in conjunction with the product transfer.

Can I change my client's repayment type?

The client would need to manage this separately with our Direct Mortgage Centre on 0330 333 4030.

Can I arrange Further Lending, Porting or a Transfer of Equity for my client?

The client would need to manage this separately with our Direct Mortgage Centre on 0330 333 4030.

Will I receive a copy of the client's mortgage offer?

An offer will only be sent to the client one month prior to the product transfer taking effect.

When will my client benefit from the new rate?

The new rate will only apply when the existing rate has matured regardless of when the product transfer has been processed.

How long will the KFI be valid for?

KFI's will be valid for 14 days. If a new retention range is launched in the interim a further KFI can be requested on a new rate.

When will I receive my procuration fee?

We will pay the procuration fee the following month after completion, providing that the rate change was completed by the 20th of the month.

If my client has an existing flexible mortgage can they transfer on to a fixed rate product?

Clients with flexible mortgages can only avail of a discounted mortgage product.

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Intermediary Desk BDM Team 0330 333 4021
New Business Enquiries 0330 333 4021
Case Updates & Broker Registrations 0330 333 4029
Product Switches 0330 333 5542
Opening Times Mon - Fri 9am - 5pm
Email intermediary@principality.co.uk

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