Existing Customer Product Switch

We will contact you approximately 4 months before your current product expires. If you want to switch to a new product, you can move to a new rate straight away or wait until the current product ends.

If you are on a fixed rate, you can switch to a new product up to 4 months before your current product expires and we will waive any applicable Early Redemption Charge (ERC).

If you’re currently on a variable rate you can switch any time, with your new product starting from the 1^st of the next month.

You can make an additional acquisition payment (AAP) (subject to a minimum of £2,000) up to 4 months before the end of your fixed rate product, free of any Early Redemption Charges (ERC) if you’re moving onto a new fixed-term product with us. If you’re on a variable rate, you can make an AAP at any time, free of ERCs.

Once on a new fixed rate, you can pay up to 10% (subject to minimum payment of £2,000) of the outstanding finance balance in each anniversary year without incurring any charge. Any AAP made in excess of 10% of the outstanding finance in each anniversary year will be subject to an Early Redemption Charge. An AAP made will be deducted from the outstanding finance amount. Any AAP limits not used during the anniversary year can’t be carried over to a subsequent anniversary year. Full details of Early Redemption Charges can be found in your Key Facts Illustration.

If you want to take out additional finance or make material changes to your existing finance with us, we might be able to consider a refinance application. You’ll need to contact us to discuss your requirements and circumstances with one of our advisers:

UK: 08000 353 050

International: +44 20 7070 6080

Alternatively, you can contact a broker or financial adviser for advice.

We may charge a fee depending on the product chosen, which will need to be paid upfront at the time you switch the product. Any fees associated with a product switch can be found in the Key Facts Illustration.

An Early Redemption Charge (ERC) may be payable if you redeem your purchase plan during a fixed rental rate period.

Details of any ERCs that may apply will be shown in the Key Facts Illustration.

We will email you telling you when the switch will take effect and to confirm your new monthly payment.

If you pay by direct debit, you do not need to do anything and we will adjust the monthly payment collected from your bank account.

If you pay by any other means than direct debit, please ensure that you adjust the monthly payment made to us.

Your payment method will not change unless we’re instructed by a registered account holder.

We would encourage you to let us take the administration of payment, by opting for a direct debit. Please contact us and we will be happy to arrange this for you.

It’s important to consider all your options before choosing a new product. Once your new product begins, we are unable to accommodate changes to the chosen product.

We’ll send you a link to our portal approximately 4 months before your product expires. It will take about 10-15 minutes to complete, and you’ll need your 9-digit account number and a payment card with you to pay any applicable product fee, as well as the permission to make the switch from any other parties to the purchase plan.

A rent-only product is a Shariah-compliant alternative to a conventional interest-only mortgage. An acquisition and rent product is a Shariah-compliant alternative to a conventional repayment (capital & interest) mortgage.

If you have a home purchase plan, we can arrange for you to speak to one of our qualified advisers who can provide advice on the most suitable product.

UK: 08000 353 050

International: +44 20 7070 6080

Alternatively, you can speak to your broker or independent financial adviser.

If you have Buy-to-Let finance, we cannot offer advice on your product switch therefore you should speak to a broker or independent financial adviser for assistance.

You should use the 9-digit account number in the correspondence regarding the product switch or in any recent correspondence you may have received from us.

This could be for several reasons, but the most likely reason is that your current product is not due to expire within the next 4 months.

You can still switch to a new product earlier than this; however, this can’t be handled by our portal and early redemption charges may apply. Please contact our Customer Service team for more information.

A physical re-valuation of your property isn’t undertaken, but we do receive updates of the estimated property value using an automated valuation model. In relation to your product switch, this data is used to calculate which of our finance-to-value (FTV) bandings the property falls into.

If you feel that the valuation is incorrect, you can contact our Customer Service team and we can arrange for an independent RICS valuation to be conducted for a fee.

We offer green home finance products which carry discounted rates and are only available for properties with a valid energy performance certificate (EPC) rating of A or B – for more information, click here.

If you have made improvements to your property since the last time the certificate was obtained you can request for a new assessment to take place and contact us to update your records once this has been completed. Further information regarding your EPC can be found at https://www.gov.uk/find-energy-certificate

This refers to the length of time that the fixed rental rate and monthly payment will remain constant before your outstanding finance rolls onto a variable rate.

Your new fixed-term product can’t be completed unless any applicable fees are paid first. Please have your chosen payment card to hand, as fee payments will be taken through your online journey.

As of October 2024, all our new products start at the beginning of the month.

We will honour your existing rate until the end of the month before your new product begins if:

• Your existing rate ends mid-month.
• Your existing rate is lower than the follow-on variable rate.
• You have completed your product switch and paid any applicable fees before the end of your existing fixed-rate maturity date.