A rate switch (product transfer) is the same loan with your existing lender, on a new rate. The loan amount, term and borrowers stay as they are, so there is no underwriting, no credit check, no survey and no proof of income. It is often quicker, with less paperwork and no full legal process. Adding funds, or any other change to the contract, is a further advance, not a rate switch. It is not always the cheapest option on the open market — we check both.
- Streamlined process, no underwriter checks
- No credit checks, no survey and no income proofs required
- Useful if your credit or income has changed since you last applied
- Compare against a full remortgage to another lender
Deal not ending yet? Get in touch and we'll put you in the diary to review 3 months out