Use our mortgage switch rate tool to find out what options are available to you as an existing Nationwide customer. The results are updated daily and are specific to the requirements that you enter for your mortgage.
Nationwide Switch Rates with No Broker Fee
There is no broker fee payable with us to switch your mortgage rate, we can advise and arrange your switch rate free of charge. The independent advice is crucial as we can consider all of your mortgage options.
No legal fees, property survey or early repayment charges.
When you switch your mortgage rates with the same lender there is no need to involve a solicitor, pay legal fees or arrange a new property survey/inspection. This is one of the advantages of staying with your current lender if you don’t want to go through all of the hassle of moving lender and going through a completely new mortgage assessment.
You just need to be within the last 3 months of your current deal, or already on the Nationwide standard variable rate to switch rates.
When can I switch rates?
You can switch rates when:
- You have 5 months or less left on your current fixed rate
- Your fixed mortgage rate has already expired, or you are on the Nationwide Base Mortgage Rate (BMR), tracker rate, or Standard Mortgage Rate (SMR)
- You have 2 or more years left on your overall mortgage term
When can’t I switch rates?
You need to speak with us if:
- Your mortgage is in arrears
- You are in the middle of a fixed rate which has more than 5 months left to run
- You are letting out your property
- You have a mortgage balance less than £1,000
- You have less than 2 years left to repay your mortgage
Important Considerations when Switching Rates
When you switch to a new rate with Nationwide you wont be able to reduce the term of the mortgage, add additional parties to the mortgage, or borrow more money this time around. So, if you don’t need to make any changes to your mortgage, then a switch rate could be for you. If you are thinking of making changes to your mortgage then speak to us first as a remortgage might be more suitable.
Switch By Phone:
0333 335 0023
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Author: Ben, Glow Mortgage Advisor (CeMAP, BSc Hons)
Date Published: 8th August 2020