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Nationwide Mortgage Switch for Existing Customers

Switching your mortgage rate with Nationwide can be good for existing customers. A Nationwide product transfer also known as a Nationwide mortgage switch is when you switch to a new mortgage deal without changing lenders. Our simple process takes minutes to transfer your products.

This page explains everything you need to know about switching your mortgage, Nationwide product transfer rates for existing customers and how a broker can help. Get in touch for free mortgage advice.

Why stay with Nationwide for your new mortgage deal?

  • Secure a Rate Up to 5 Months Early: Lock in your new mortgage rate well in advance.

  • No Broker Fees: Benefit from our services without any extra costs.

  • Same-Day Service: Enjoy efficient, same-day processing for your transfer.

  • Paperless Process: Complete your transfer without any paperwork.

  • No Valuations Needed: Save time with no need for property valuations.

  • No Credit Scoring: Transfer your mortgage without affecting your credit score.

Note: Further advances, term changes, home moves, and removal of a borrower will still require standard underwriting.

Covered on this page:
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    Nationwide Product Transfer Eligibility

    To be eligible for a Nationwide product transfer, you must:

    • Customer Type: Residential customers.

    • Roll-Off Period: Within five months of the current Nationwide mortgage deal end date.

    • Current Rate: If you are on a standard variable rate (SVR) or within the track and switch period on a tracker rate.

    • Loan Amount: £10,000 minimum loan amount to secure a new rate.

    • Term Remaining: More than 27 months remaining on your mortgage term at the date of applying for the product switch (the end date of the new product must be before the mortgage end date).

    Nationwide Mortgage Rates Existing Customers

    Nationwide mortgage customers can get fixed-rate mortgages with different loan-to-value ratios. Below are the current residential Nationwide mortgage rates for existing customers as of 14th August 2024.

    Nationwide mortgage rates existing customers (60% loan-to-value)

    Below are the current Nationwide mortgage rates for existing customers for a 60% loan-to-value fixed 2, 3, 5, and 10 year residential mortgages. Rates are current interest rates updated by Nationwide as of 14th August 2024.

    Please provide a valid CSV file.

    Nationwide mortgage rates existing customers (75% to 85% loan-to-value)

    Below are the current Nationwide mortgage rates for existing customers for a 75% to 85% loan-to-value fixed 2, 3, 5, and 10 year residential mortgages. Rates are current interest rates updated by Nationwide as of 14th August 2024.

    Please provide a valid CSV file.

    Nationwide mortgage rates existing customers (90% to 95% loan-to-value)

    Below are the current Nationwide mortgage rates for existing customers for a 90% to 95% loan-to-value fixed 2, 3, 5, and 10 year residential mortgages. Rates are current interest rates updated by Nationwide as of 14th August 2024.

    Term Rate Type Fee LTV
    2 years 5.55 Fixed £999 90%
    2 years 5.75 Fixed None 90%
    2 years 5.61 Fixed £999 95%
    2 years 5.79 Fixed None 95%
    3 years 5.6 Fixed £999 90%
    3 years 6.0 Fixed None 90%
    3 years 5.29 Fixed £999 95%
    3 years 5.49 Fixed None 95%
    5 years 5.19 Fixed £999 90%
    5 years 5.29 Fixed None 90%
    5 years 5.49 Fixed £999 95%
    5 years 5.64 Fixed None 95%
    10 years 5.29 Fixed £999 90%
    10 years 5.5 Fixed None 90%
    10 years 5.44 Fixed £999 95%
    10 years 5.64 Fixed None 95%

    Nationwide mortgage rates existing customers (Tracker Rates)

    Below are the current Nationwide mortgage rates for existing customers tracker mortgages 60% to 95% LTV 2-year tracker residential mortgages. Rates are current interest rates updated by Nationwide as of 14th August 2024.

    Please provide a valid CSV file.

    The Nationwide standard variable rate is currently 7.74% as of August 2024. If you are on this rate, exploring a product transfer on your mortgage balance may be beneficial to secure a lower interest rate. You will have no early repayment charge and therefore the process could be quick and you will benefit from a new monthly payment.

    What Happens to Your Monthly Mortgage Payments?

    Your monthly mortgage payments may change when you switch your mortgage. If you opt for a lower interest rate or extend your mortgage term, your payments may decrease. Conversely, if you shorten your mortgage term or interest rates increase, your payments may rise.

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    When Can You Switch to a New Nationwide Deal?

    The timing of when you can switch depends on your current mortgage type and how long you have before your current deal ends:

    • Fixed-Rate Mortgages: If your fixed-rate deal has less than four months remaining, you can apply to switch to a new one now.

    • Eligibility Check: Use Nationwide’s Mortgage Manager in the Internet Bank and banking app to check your eligibility and manage your switch.

    Suppose you are not sure where to start. In that case, Nationwide’s guide to switching your mortgage deal provides comprehensive information on what to consider before switching and the types of mortgage deals available.

    Dates for Nationwide Product Switching

    Earliest Date to Complete the Switch: The earliest date to select a Nationwide mortgage product switch rate is the first day of the month, five months before your current rate ends. For example, if your Nationwide mortgage product ends on 31st July, you can select a new rate on 1st March. The new rate can start anytime within 3 months of the expiry of your current rate.

    Latest Date to Complete the Switch: To complete a switch to start next month, we need to have your instruction by the close of business on the 22nd of the current month.

    Please provide a valid CSV file.

    Things to Consider When Switching Mortgage Rates

    When transferring with Nationwide, there are a few things to think about:

    • The Product Fee: This can be paid upfront or added to your mortgage. While the Nationwide mortgage rate on fee-charged products is lower than those with no product fee, consider whether saving on interest with a fee-paid product is worth the cost.

    • The New Rate: Evaluate the new interest rate and how it compares to your current rate and monthly mortgage payments.

    • The Term of the New Rate: Consider the length of the new mortgage rate term and how it fits with your financial plans.

    • Early Repayment Charges: If you decide to switch before your current fixed-rate deal ends, be aware of any early repayment charges.

    Carefully considering these factors can help you choose the best product transfer option.

    Nationwide Early Repayment Charge Table

    When completing a product transfer, it’s crucial to discuss early repayment charges with your broker or lender. Often, it’s advisable to wait until your fixed-rate nationwide mortgage deal ends before switching mortgage rates to avoid potential legal fees, and valuation fee.

    Please provide a valid CSV file.

    Nationwide Mortgage Product Transfer – The Process

    Did you know switching rates with a Nationwide product transfer can be completed on the same day?

    1. Contact Our Team: Call us or use our online Nationwide product transfer form. Please provide us with your personal details and Nationwide mortgage account number.

    2. Review Options: We will check your Nationwide Mortgage Product options and provide you with the mortgage switch rates that are available.

    3. Get Expert Help: Our experienced team can help you decide on your best option. We support you throughout the process and manage everything for you for free.

    4. Request Mortgage Offer: Once you have decided, our mortgage team will request a mortgage offer based on the new rate and any additional borrowing.

    5. Approve Offer: Once you’ve decided on the best option, our team will apply for Nationwide. You will receive an email with a link to review and approve your offer.

    Get Mortgage Broker help for your Nationwide Mortgage Switch

    A mortgage broker can be a godsend when switching your rate. They’ll give you expert advice, explain the options, and guide you through the switch.

    At YesCanDo Money, we offer free, full-service mortgage broking to help you through the mortgage product transfer process. Our mortgage team will do the paperwork, give you mortgage advice, and get you the best deal—all for free. Our team of experienced brokers will make it as painless as possible, saving you time and hassle.

    Free Mortgage Advice & Do-it-all Service

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    • Smooth process with great communication throughout

    • Exclusive broker rates

    Nationwide Mortgage Switch FAQs

    The following are some of the questions that are most regulary asked about Nationwide Mortgage Switch. It might be that the answers to your questions are covered here but if not, check in with the team at YesCanDo Money today for further guidance.

    Yes, it’s possible. Mortgage lenders may decline your application if you change your current mortgage, such as loan amount or term.

    Yes, you can switch to a different deal before completion. You may need to pay any outstanding product and new deal fees.

    If your current deal ends soon, you can switch to a new one without an early repayment charge. However, timing is crucial—remortgage too early, and you’ll face an early repayment charge. There’s no charge if you’re on the Standard Variable Rate.

    You can change your mortgage term when switching to a new deal. Discuss this with your mortgage broker or directly with Nationwide to explore options.

    The process is usually very quick, almost instantaneous. Get a personalised quote online within 10 minutes; no new credit checks are needed.

    The term “remortgage” can be used in two ways. It can mean switching your mortgage to a different lender. But it can also mean changing your mortgage deal with your existing lender, which is essentially the same as a product transfer. Both involve switching to a new mortgage product with your existing lender. Both can get you a better rate but are different processes.

    You won’t need many documents for a product transfer, but it’s a good idea to have your existing mortgage details and ID on hand.

    No, bank statements are not required for a product transfer. But always check with your broker or Nationwide to be sure.

    You can switch online using the Mortgage Manager in the banking app or Internet Bank. Alternatively, get free advice by speaking to a mortgage adviser. Brokers such as YesCanDo Money can provide advice and complete your mortgage switch for you for free.

    To qualify, you must be an existing Nationwide member as of March 31, 2024, switch a non-Nationwide account with at least two direct debits, and open one of three accounts: FlexPlus, FlexDirect, or FlexAccount.

    The 6-month rule prevents financing a property the vendor owns for less than six months. Exceptions include repossessions, bridging loan purchases, inheritance, and cash buyers.

    The Nationwide SVR, as of July 12th 2024, is currently 7.99%, which is 2.74% above the Bank of England base rate.

    Yes, banks often offer better rates to existing customers. Comparison shopping and negotiation can help secure a new deal with lower rates and possibly lower mortgage payments. Some lenders even provide discounts for bundling services.

    NatWest Mortgage Switch Adviser Team

    OR FILL IN OUR FORM

    Product Transfer Form

    Please provide us with your mortgage details in the form below. Once we receive your information, one of our fee-free mortgage advisers will be in touch to discuss your mortgage rate switch options. We are here to help you find the best rates and terms tailored to your needs.

    Picture of Grant Humphries (CeMAP)
    Grant Humphries (CeMAP)

    Grant Humphries (CeMAP) is a proficient Mortgage & Protection Adviser at YesCanDo Money. With a career spanning since 2001, Grant has honed his expertise in understanding mortgage lenders' criteria, complex financial situations, and the nuances of the mortgage market. His deep knowledge enables him to provide tailored solutions, especially for professionals and those with unique financial profiles. At YesCanDo, Grant's commitment to excellence is evident. He takes pride in guiding clients through their mortgage journey, ensuring they feel confident and informed at every step. From first-time buyers to seasoned investors, Grant's analytical approach and dedication make him a trusted adviser in the financial landscape

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