We’ve made rate switching simple. Whether your mortgage product is coming to an end or has already ended, you can easily switch to a new mortgage product.
Why rate switch?
- Simple and straightforward rate switch process
- No underwriting
- No credit searches
- No valuation fee: a standard valuation isn’t required when arranging a new product
- No solicitor fees
- No bank statements, payslips or P60 required
How to apply for a rate switch
If you have received a letter from us containing your rate switch made easy form and unique reference code you can apply to rate switch online. We’ll then send your rate switch paperwork by post or by email within 3 working days.
If you have not received a letter, or if you wish to receive advice, you can speak to one of our Mortgage Advisers who will recommend the most suitable product for you from our current range. Contact us to arrange an appointment.
Rate switch process
If you're eligible and you don't require any advice from us you can choose your own mortgage product and complete the rate switch process in a couple of easy steps.
Review the rate switch made easy form and choose your preferred product. There are 4 simple ways to let us know:
- Complete our online rate switch form;
- Email firstname.lastname@example.org;
- Call us on 0121 521 4046; or
- Post your completed form using the prepaid envelope.
We will send you a European Standardised Information Sheet (ESIS) which includes details of your mortgage and selected product, along with your Mortgage Rate Switch Offer. If you are happy with the product you’ve chosen, simply sign the Acceptance of Offer and return this to us by post or by email - no additional documents are required.
We’ll contact you if there are any fees that need to be paid and, once we’ve processed your rate switch, we’ll send you confirmation of your new monthly repayment.
Execution only rate switch is only available for change of mortgage product. For any other changes to your mortgage, including change of term, change of repayment method, additional borrowing or transfer of equity, please call us on 0121 521 4046 or complete our online contact form to arrange an appointment with one of our Mortgage Advisers.
If you are unsure which mortgage product to choose, or if you are not eligible for Execution Only, one of our Mortgage Advisers can provide advice and make a recommendation to you based on the most suitable product available.
We do not charge for any advice provided by our Mortgage Advisers.
Please call us on 0121 521 4046 or complete our online contact form to arrange an appointment with a Mortgage Adviser. During your appointment your Mortgage Adviser will review your mortgage in full and complete a fact find to determine the product most suitable for you.
Following your appointment, your Mortgage Adviser will send you a rate switch mortgage pack, this will include a European Standardised Information Sheet (ESIS) detailing the recommended product along with documentation which summarises your discussion and your Mortgage Rate Switch Offer. If you are happy to continue, complete and sign all documentation and return it to us by post or by email.
We must receive your signed paperwork at least 10 days prior to maturity to guarantee your new product is in place on maturity of your existing product. Documents can be returned after this date but may not allow sufficient time to process your rate switch request and your account may revert to our Standard Variable Rate or Buy to Let Variable Rate and your payment adjusted accordingly in the interim.
When we’ve processed your rate switch, we’ll send you a letter confirming how much your new repayment will be.
Once you have received advice you will no longer be able to choose your own product.
Rate switch for intermediaries
We also offer a rate switch option for mortgage intermediaries.
You can apply for a mortgage rate switch on your client’s behalf. Click here for further information.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.