FAQs

When it comes to mortgages, there can be lots to think about. That’s why we’ve pulled together a list of our most frequently asked questions, to help you stay on top of things.

 

Brexit

 

Borrowing more

 

Getting a new mortgage deal

  • What happens when my promotional rate comes to an end?

    We’ll send you a letter before your promotional rate ends. It'll explain your new rate and what your new regular monthly repayment will be.

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  • How do I apply for a new mortgage deal?

    Once you’re within four months of your current promotional deal ending, visit our customer hub to view your exclusive rates. As long as you’re eligible to switch you’ll be able to see how much a new rate affects your monthly mortgage payment.

    If you’re not sure of your options you can give us a call and take advantage of our free advice service. Alternatively, if you’re happy to proceed without receiving advice, select your chosen rate and start the switching process online.

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  • Will my home need to be revalued?

    In most cases, we won’t need to revalue your property when you switch your mortgage deal. When a valuation is required, such as if you’d like to borrow more money or you believe the value of your property has changed, we’ll let you know and confirm any fees before this is instructed.

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  • Will solicitors need to be involved?

    Most of the time there’s no need for solicitors to be involved.

    If one is needed, we’ll use a solicitor from our nominated panel. Normally there’s no charge for this.

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  • When I switch my deal, can I make other changes at the same time?

    Yes. It’s certainly possible to make other changes at the same time as switching your deal, as long as this meets our current lending criteria.

    For example, you could convert part or all of your interest only mortgage to repayment, change the mortgage term, or borrow more money.

    If you do want to make other changes along with switching your deal, you’ll need to apply over the phone. It’s worth noting that this would include an affordability assessment and may include a valuation that you’ll need to pay for if you want to borrow more.

    To find out more, call us on 0345 300 8000*.

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  • When I switch my deal, can I also pay a lump sum off my mortgage at the same time?

    These are two different processes, so you wouldn’t be able to complete them together.

    Whilst you’re welcome to pay off a lump sum (also known as a part redemption) before you switch your deal, we need at least 1 of your regular monthly payments to process between the lump sum payment and switching your product.

    For example, if you paid a lump sum on the 1st of January, we would process your request to switch on the 1st of March, with your regular payment taken in February.

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  • I've applied for a new deal, but have also received an interest rate change letter. What should I do?

    If you've received an interest rate change letter, but you've already applied for a new deal, please call us on 0345 300 8000 so we can look into this for you. Lines are open 8.30am – 8pm Monday to Friday and 9am – 2pm Saturdays.

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Transferring your current mortgage rate when moving home