Rate switch
If your client’s looking for a new product with us, use our rate switch service. Available for all like for like rate switches, it’s a quick and easy way to transfer.
Rate switch products (Excel, 0.2MB)
Rate switch datesBenefits for you and your client
Simple and straightforward process
No affordability or credit checks
No valuation or legal fees
Quick offer turnaround
We will pay 0.20% procuration fee
Switch online
You can apply online if your client:
- Has an existing mortgage product with us that is due to mature within the next 120 days or is not tied into a product with early repayment charges
- Doesn't need to make any other changes to their mortgage, such as borrowing more, changing term or repayment method, adding or removing borrowers or making a capital payment
- Is up to date with their mortgage payments
What you may need from your client:
Existing mortgage account number- Postcode of the mortgaged property
- Names and date of birth for all applicants on the mortgage - not needed for Limited Company Buy to Let clients
- Company name - Limited Company Buy to Let clients only
If your client has a Limited Company Buy to Let mortgage, apply through Mortgage Extra.
Switch over the phone
This is not for Limited Company Buy to Let mortgages.
In some cases your client may need to contact us directly on 03450 505 075 for their rate switch.
Your client will need to call if:
- They’re making changes to their mortgage like changing the term or repayment method
- They’re adding or removing borrowers
- Their mortgage term has less than 2 years remaining
- They have a Retirement Interest Only (RIO) mortgage
- They want to change the mortgage type e.g. residential to buy to let or vice versa
- They have an early repayment charge and want to pay it
Unfortunately in these circumstances we can’t pay you a procuration fee.
How to request a rate switch
Step 1
Log in to start the rate switch
Step 2
Review the client's current mortgage details
Step 3
Select a new mortgage rate
Step 4
Review and submit
Rate switch dates
Rate switch dates for Mortgage Extra
To ensure your client's new deal starts right after their current one ends, submit your application on or before the 10th of the month their current deal ends.
Example: Mortgage deal ends 31 January, so their application needs to be submitted on or before the 10 January.
Rate switches for Mortgage Hub
To ensure your client’s new deal starts right after the current one ends, submit your application at least eight full working days before their current deal ends. If you need to make changes to a rate switch you’ve already submitted, please give us at least three working days’ notice before the relevant cut-off date. This gives us enough time to cancel the switch and to process your changes.
In some cases, such as when a valuation is needed, more processing time may be required which could delay the new deal until the start of the following month.
| Mortgage deal end date | New mortgage deal start date | Final date to submit your rate switch |
|---|
Mortgage rate end date: (Required)
Select a date
| Mortgage deal end date: | |
|---|---|
| New Mortgage deal start date: | |
| Final date to submit your rate switch: |
£200 cashback details
£200 cashback available on mortgage deals chosen on or after 2 June. Cashback can be withdrawn at any time and without notice.
Cashback will be paid within 30 days of completion of the new deal.
We’ll send the payment directly to the bank account the client uses for their mortgage Direct Debit. If the client don’t currently have an active Direct Debit, we'll contact them to pay the cashback via a different method.
Only one cashback payment is available per mortgage, and is not available to Limited Company Buy to Let mortgages.
If the chosen deal includes a product fee, the cashback can’t be used towards this fee.
