1. Home
  2. Our products
  3. Mortgages
  4. Switching your mortgage deal
  • Before you switch
  • Getting a quote
  • How to apply

Switching your deal

If your mortgage product is coming to the end of it's 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 The Co-operative Bank?

Switching your mortgage product with The Co-operative Bank 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 an arrangement fee
  • No legal fees
  • No need for a credit search
  • In most cases there is no need for a new property valuation
  • Flexibility to make 10% overpayments per year
  • A donation made to homeless charity Centrepoint. Learn more about the work we do with Centrepoint.

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 Co-operative Bank 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 £5,000
  • Your loan to value is up to 100% or above. 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.
Getting a quote

Getting a quote

Before you start an application

Use our mortgage calculator to see the options we have for you and how much your monthly repayments might be.

There are no affordability checks at this stage and we will not ask for any personal details. This is just for illustrative purposes.

  • 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

Information Only

This option is suited to those who already know which product they are looking for (also known as Execution Only)

  • We will give you 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.


This option is suited to those that are unsure about which product is best for them

  • 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.

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 number to hand.

Applying online

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
  • You are entitled to request more than one illustration on any of our products that you qualify for. If you do require more than one illustration, please call us on 08000 288 288 to discuss your options before completing your application online.

Applying by telephone

You can receive advice or choose you own product 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 08000 288 288 to discuss your options. This shouldn't take too long and we can arrange the most appropriate appointment.

Please note, if you are a Co-operative Bank mortgage customer with an Interest Only mortgage and you do not have a repayment vehicle in place to repay the capital at the end of your mortgage term, we may not be able to complete your switch request and will give you a call to discuss your circumstances and options.

I want to switch my mortgage product online and to proceed without advice.

Start application online

Your home may be repossessed if you do not keep up with repayments on your mortgage

The Co-operative Bank reserves the right to change or withdraw any of its mortgage deals at any time. All loans are subject to status and valuation.