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Switching your mortgage
What to expect when switching your mortgage deal
You're mid-deal on a fixed rate mortgage - but not online, you'll need to give us a call or go into branch as there'll be an Early Repayment Charge (ERC) to pay.
You're letting out your property (Exceptions apply)
Find out how to apply
You can take our mortgage deals with you if you move (Porting) so a new home wouldn’t have to mean an Early Repayment Charge (ERC).
Some of our older mortgages came with features such as:
If your mortgage has any of the above features you’ll lose them permanently when you switch.
More about Borrow back, Payment holiday and BMR/SMR
You can choose to keep some or all of your overpayment reserve when you switch. If you reduce your overpayment reserve by any amount, you won’t be able to use this amount to underpay after you switch but your Loan To Value (LTV) will be lower. You could get a lower rate if you move to a lower LTV band. If you choose to keep your overpayment reserve, you’ll still be able to use it to underpay after you switch, but your LTV will be higher. Your rate may be higher if you move to a higher LTV band.
More about overpayment reserve
More about underpayments
More about BMR and SMR
We have a range of fixed rate and tracker rate mortgage deals.
Fixed Rate Mortgages - Your monthly payments stays the same throughout a fixed deal.
Tracker rate Mortgages - Your monthly payments will track the Bank of England base rate.
When you apply to switch with advice one of our Mortgage Consultants can help you choose a suitable product. You can choose to apply without advice, but you’ll be responsible for your deal choice and any impact it may have.
Note: If you want to borrow more and switch on the same day - It's important that you give us a call on 0800 30 20 10 or visit us in branch. If you apply online you could end up paying more than you need to.
Mortgages are secured on your home. You could lose your home if you do not keep up payments on your mortgage.
Mortgages are subject to underwriting and criteria. Minimum age 18, UK residents only.
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