Switching to a new Nationwide mortgage rate is usually a quick and straightforward process for existing customers. Our free mortgage product switch service helps you secure a new mortgage rate before your current deal expires, protecting you against future rate increases while retaining the flexibility to benefit if rates improve before your new rate starts.
When can I switch my Nationwide mortgage?
You can normally select a new Nationwide mortgage product from the first day of the month, five months before your current mortgage product ends.
Your new mortgage rate can begin up to three months before your existing mortgage product expires without incurring an early repayment charge on your current mortgage product.
Our Nationwide mortgage switch process
- Contact our team by telephone or complete our secure online enquiry form.
- We confirm your eligibility for a Nationwide mortgage product switch.
- We review your outstanding mortgage balance and estimated property value.
- We obtain details of all mortgage products available for your account.
- We explain your options clearly and help you choose the most suitable mortgage product.
- Once you have selected your preferred mortgage rate, we arrange for your formal Nationwide mortgage offer to be issued.
Benefits of switching your Nationwide mortgage
- Secure your new mortgage rate months before your current deal ends.
- Protect yourself against future mortgage rate increases.
- If Nationwide improves its rates before your new deal starts, you may be able to switch to the lower rate before the applicable deadline.
- No credit check is normally required for a straightforward mortgage product switch.
- No proof of income is normally required.
- No legal work is required.
- The process is significantly quicker and simpler than arranging a full remortgage.
Overpayment allowances
Nationwide allows borrowers to make overpayments of up to 10% of their outstanding mortgage balance each year without incurring an early repayment charge.
If you intend to make regular or lump sum overpayments, you should always check that you remain within your permitted allowance.
Why use our service?
- Our Nationwide mortgage product switch service is completely free of charge.
- We explain your mortgage options in clear, straightforward language.
- We manage the application from start to finish.
- We remain available throughout the process to answer any questions you may have.
- Where appropriate, we can also compare your Nationwide mortgage options with products available across the wider UK mortgage market before you make your decision.
A mortgage secured against your home is a regulated financial product. Before progressing your mortgage rate switch, we will gather some background information using our secure online application, which typically takes only a few minutes to complete.