Rate switch FAQs

Account queries

My client wants to do a rate switch. What's the process?

You can read about the rate switch process on our Existing Nationwide Borrowers page.

My client wants to borrow more money and switch their existing mortgage product. Can I arrange this?

This will need to be processed as two separate applications. You can complete the rate switch on behalf of your client. If your client wishes to take additional borrowing, they will need to speak to Nationwide directly. Visit our additional borrowers page for more details.

Either transaction can be completed first, depending on you and your client’s preference.

What if my client has more than four accounts to switch?

If your client would like to switch more than four accounts, this will need to be submitted as a paper application. You can read about rate switch exceptions on our Existing Nationwide Borrowers page.

What if there are more than two applicants on the existing mortgage?

If your client would like to switch but there are more than two applicants on their existing mortgage, this will need to be submitted as a paper application. You can read about rate switch exceptions on our Existing Nationwide Borrowers page.

When will my clients rate switch complete?

Rate switches always take effect from the 1st of the month. Switcher applications must be submitted and accepted, at least six working days before this- see the table below for full details. After this time, the new deal won’t apply until the 1st of the following month.


Direct debit collected Last submission/acceptance date
1st of the month 6 working days before the end of the month
2nd of the month 5 working days before the end of the month
3rd of the month 4 working days before the end of the month
4th - 28th of the month 3 working days before the end of the month

Can my client change from interest only to repayment?

Your client will need to call 0800 30 20 10 to change their repayment method. This is separate from the rate switch process.

What happens if my client doesn't switch to a new product?

If your client doesn't switch to a new product then their mortgage will continue on the current terms and conditions. Please refer to their original offer for full details.

What happens when my client's current mortgage deal ends?

Your client will be sent a 'Product Maturity' letter 12 weeks and 4 weeks before their product ends. They may receive a further letter closer to the product ending if the Bank of England base rate changes and there is an impact on their current product.

If a switch isn't made prior to the end of your client's current deal, the account will move onto the revert rate detailed in their mortgage offer.

Can my client change their mortgage or repayment terms?

Your client will need to call 0800 30 20 10 to change their mortgage term or repayment method. This is separate from the rate switch process. Either transaction can be completed first, depending on you and your client’s preference.

Eligibility queries

Who's eligible to switch online?

You can read about our eligibility on our Existing Nationwide Borrowers page.

What's the earliest my client can apply for a rate switch?

If your client has a tracker product with no ERC, it can be switched to a fixed rate at any time.

If your client has a fixed or tracker product with an ERC, the rate switch can be applied for up to 5 months ahead of the current product end date. The earliest the switch can take place is the first month of the 3 months ERC free waiver period.

If your client is on a BMR or SMR product, it can be switched at any time.

Will a credit search be completed during the switcher process?

No, as your clients are existing customers, there is no need for us to complete a new credit search as part of the switcher process.

Can I submit my own rate switch application?
You can only submit your own rate switch application via Nationwide.co.uk or a Nationwide branch. Alternatively, your application can be submitted by another intermediary.

Fees and payment queries

Does my client need to change their direct debit?

No - we’ll use your client's existing direct debit details to make changes to the payment. If they don’t want us to use the existing direct debit details they can provide us with the new details by calling 0800 30 20 10.

What are the fees/charges for switching?

A booking/product fee may be charged, depending on the product your client selects.

There is no valuation fee. An automated valuation will be carried out to provide a current value which will be used to determine which products your clients are eligible for.

There are no legal fees payable for Rate switch applications. However your client may consider taking legal advice, which may incur fees.

What fees are refundable?

If the product/booking fees are paid when the offer is submitted and your clients change their mind prior to completion, we’ll return the fees.

If the product/booking fees have been added to the loan when the offer is accepted, then no money will have been taken.

Once the switch completes, it can’t be cancelled and therefore the fees are non-refundable.

Will I receive a procuration fee for submitting a switcher application?

Yes, we currently pay procuration fees for new rate switch applications. Visit our Procuration fees page for more details.

Completion queries

I have submitted the rate switch application for my client via NFI Online. What happens next?

The switch will take effect from the start date chosen during the application process. Any fees that your client has chosen to add to the loan will be added to their mortgage balance and a confirmation letter showing their new monthly payments will be sent directly to your client shortly afterwards.

Valuation queries

How do I appeal the property valuation figure?

If you or your client wish to appeal the property valuation figure returned by NFI Online as a part of a rate switch application, please complete the Rate Switch Valuation Appeal Form and email this to switchervaluationappeals@nationwide.co.uk

Cancellation queries

How can a rate switch be cancelled if it hasn't been submitted?

You can cancel the application through the Case Home screen on NFI Online.

Alternatively, if you would like to change the details of an offer, you can amend the details and produce a new offer in the original application.

How can a rate switch be cancelled if it has been submitted?

You have until 5.00pm on the last working day before the switch is due, to cancel the rate switch application. To cancel the switch, please call our technical support team on 0800 545 3131 and select option 2.