Find a better mortgage deal
If your mortgage product is coming to the end of its deal period or you are currently on our Standard Variable Rate, we have a range of new products for you to choose from.
Before you switch
Thinking about switching mortgage product with Platform
Switching your mortgage product with Platform could mean getting a better rate and saving money. If your existing mortgage product has ended or is ending soon, you can apply to switch to a new product.
For switches where only the mortgage product is being changed, you can expect:
- Products with or without arrangement fee
- No legal fees
- No need for a credit search
- In most cases, no requirement for a new property valuation, but even if you do there is no fee
- Flexibility to make 10% overpayments per year
- A donation made to homeless charity Centrepoint. Learn more about the work we do with Centrepoint.
If you are within 30 days of the maturity date of your existing product, you can make overpayments to your mortgage without incurring any Early Repayment Charges (ERCs).
Before you switch your mortgage product, there are some things that you'll need to consider:
Are you eligible?
You can switch your mortgage with us if:
- You're a current Platform mortgage customer
- Your mortgage isn't in arrears and you've not missed any mortgage payment in the last 12 months
- You don't have a shared ownership or shared equity mortgage
- Your property isn't currently let (unless you are serving abroad in the Armed Forces)
- You have a minimum outstanding balance of £5000
- Your loan to value is up to 99%. If you apply online, our products are only available up to 90% loan to value so if your loan to value is higher than 90% you will need to call us to complete your product switch.
Help to Buy customers
If you’d like to switch your Help to Buy mortgage product, please call us to arrange an appointment with one of our Mortgage Advisors. After collecting information about your personal circumstances, they’ll be able to recommend a mortgage that is suitable for you. Alternatively, if you have your own Mortgage Advisor, they can submit an application on your behalf.
To make a phone appointment, please contact: 01752 236550. Opening hours are 8:30am to 5:30pm Monday to Friday.
We’re experiencing impacts to the services we can offer as a result of coronavirus and our wait times for an advised appointment are higher than usual. We hope you understand as we continue to provide the best service we can. If you know which product you want and don’t require advice, you can do this either via our online switch process or via ‘execution only’ telephone appointment.
How to apply
We have two ways in which you can switch your mortgage product
This option is suited to those who already know which product they are looking for (also known as Execution Only)
- We will give your information about the range of products we have available and you decide on the one that is appropriate for your circumstances.
- We will not provide advice and will not be responsible for assessing whether the product is suitable to meet your needs
- You can complete an information only mortgage switch online and over the phone
This option is suited to those that are unsure about which product is best for them. Please note that Advice is not available for Buy to Let customers.
- We will review your circumstances and provide a recommendation based on your needs
- As we are providing advice, we are responsible for ensuring the product is suitable for your needs
- You can only complete a mortgage switch with Advice over the phone
- You can also speak to a mortgage broker for advice, and they can submit a product switch request to us on your behalf
Regardless of how you apply:
- You will receive full details in the post about your new mortgage product and new repayment amount. Once you receive these details, you will need to review, sign and return before we can complete your mortgage product switch.
- Our range of products available will be the same
- You will need to have your mortgage account to hand
Before you begin your mortgage product switch online:
- You should know the details of the product you're looking to apply for, such as fixed term length
- If you choose a mortgage product with a fee how you will pay the fee
Applying by telephone
You can receive advice or choose your own product over the telephone. Buy to Let customers can choose a product over the telephone via Information Only, however, advice is not available over the telephone.
Should you want advice you will need the following information for your appointment:
- Have access to details of your income, including your most recent pay slip
- Your latest bank statement, including full details of your outgoings
- Have details of all loans and credit cards
Call us today on 01752 236550 to discuss your options, This shouldn't take too long and we can arrange the most appropriate appointment.
Before you use our Mortgage switch form please ensure that you meet the eligibility criteria to apply online
We are not able to accept online applications:
- If you have a shared ownership or shared equity mortgage
- If you have an Early Repayment Charge that does not expire within the next 4 months
- If extra borrowing is required
- If a change to the mortgage term is required
- If a change to add or remove an account holder to or from the mortgage is required
- If a change to the repayment method is required e.g. Moving from interest only to capital and interest
- If you have missed any mortgage payments within the last 12 months
- If the fixed term of the product required is longer than the remaining mortgage term
- If the outstanding balance of your mortgage account being switched is less than £5,000
- If you want to switch more than 5 accounts associated with your mortgage (referred to as sub accounts)
- If the remaining term of your mortgage is 12 months or less
- If you want to switch an account that is not your main mortgage account
By starting your product switch using this online form, you declare that your mortgage does not fall into any of the categories above.
I want to switch my mortgage product online and to proceed without advice.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE