Rate Switch Made Easy
If you have not submitted business to the Society within the last 12 months, you will need to complete our registration process before you can complete a rate switch on behalf of your client. Please, click here to download a registration form.
Completing a rate switch
There are 3 simple steps to complete your client’s rate switch. You’ll find some questions and answers in the Rate Switch Guide below. If there’s anything else you need to know, please call our Business Retention Team on 0121 521 4088 or email email@example.com.
1.) Complete the Rate Switch Authority form and email this to us at firstname.lastname@example.org. We’ll send you a Broker Registration Form, Rate Switch Product Guide and Product Selection Form within 3 working days.
2.) Complete the Broker Registration Form & Product Selection Form and email these to us at email@example.com. We’ll then send you a rate switch pack containing an Acceptance of Offer and a European Standardised Information Sheet (ESIS) for your client’s chosen product.
3.) Ask your client to sign the Acceptance of Offer and email the completed form to firstname.lastname@example.org – we’ll do the rest!
When you submit a rate switch request you'll need to provide your clients with a copy of our Privacy Notice. You can download a copy from our Privacy Notice page.
If your client is currently within a product, the rate switch will take place when their current product expires. You and your client will receive notification that this has been completed.
Procuration fee payments will be paid the month following completion of the rate switch.
Why get a new deal with us?*
Our simple and straightforward rate switch process can be quick and easy to complete. We will action your request within 3 working days and our below criteria keeps everything as simple as possible.
- No income or affordability assessments
- No underwriting
- No credit search required
- No valuation fee (a standard valuation isn’t required when getting a new product)
- No legal fees
- No bank statements, payslips or P60 required; and
- 0.20% procuration fee paid on both residential and buy to let rate switches
*This service is only available to your clients who wish to rate switch on to a new mortgage product. For any other changes to the mortgage, for example change to term, repayment method and borrowing more money, please contact our Business Retention Team on 0121 521 4088 or email email@example.com.
Please note, rate switch specific products are only available via our Business Retention Team.