Switching your existing mortgage deal

If your mortgage product is coming to the end of its deal period or you’re currently on our Standard Variable Rate, we have a range of new products for you to choose from.

Before you switch

Thinking about switching your 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 a product fee
No legal fees
No need for a credit search
No need for a new property valuation (in most cases)
Flexibility to make 10% overpayments per year without incurring any early repayment charges
A donation made to the charity Centrepoint. Learn more about our work with the UK's leading youth homeless charity.

With a Co-operative Bank mortgage, we calculate interest on a daily basis and apply this to your account on the last day of each month. If you pay your monthly payment on the 1st of the month, this immediately reduces your balance, which means you will avoid additional interest accruing.

Under the Terms and Conditions of our mortgages you must make your monthly mortgage payment by Direct Debit. If you do not currently pay by Direct Debit you will need to set one up before we can proceed with your application. A Direct Debit will always ensure that your payment arrives with us on time and that you continue to pay us the correct amount if you’re on a variable product.

Are you eligible to switch?

You can switch your mortgage with us if:

You’re a current Co-operative Bank mortgage customer
Your mortgage is not in arrears
You don’t have a shared ownership or shared equity mortgage (both of these are schemes to help you buy your home, if you are unsure if this applies to your mortgage please see the definitions below)
Your current mortgage is on our Standard Variable Rate (SVR) or you have less than 6 months left on your existing product
Your property isn't currently let (unless you are serving abroad in the Armed Forces or have a Buy to Let mortgage)
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.

For example, if your property is currently valued at £200,000 and you still have £190,000 left to pay on your mortgage, your loan to value is 95%. This means you’d have to call to us in order to switch.

A shared ownership mortgage is where a percentage of the property is purchased by you which you have a mortgage on and you pay rent for the remaining share of the property, normally to a housing association.

A shared equity mortgage is where you will have taken out a shared equity loan to pay for part of the deposit on your property as well as your mortgage.

Services available when switching

There are two services available when switching your product: Information Only and Advice.

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 will 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 service is available through our online product switching service and over the phone.

Advice

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.
This service is only available over the phone.

Regardless of which service you use:

You’ll receive full details in the post about your new mortgage product and new monthly payment — once you receive these details, you’ll need to review, sign, and return any documents before we can complete your mortgage product switch
Our range of products available will be the same
You’ll need to have your mortgage account number to hand.

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.

Ways to switch

There are a few different ways you can apply to switch your mortgage deal.

Switch your deal online

Please note, our online product switching service isn’t available to everyone. If you cannot apply online you may still be able to apply to switch your deal over the phone. Please see the apply to switch by telephone section below.

For example, you can’t apply to switch online if:

You have 12 months or less left on your mortgage
You want to borrow more or change your mortgage term
You have more than 6 months left on your existing product
Your mortgage is in arrears
The fixed term you’d like is longer than your remaining mortgage term
You want to add or remove an account holder to or from the mortgage
You want to change the repayment method eg. from interest only to capital and interest
You want to switch more than 3 accounts associated with your mortgage (referred to as sub accounts)
You have an interest-only mortgage, and you do not have a repayment plan in place to repay the balance at the end of your mortgage.

Things to know before you switch

Before you begin your mortgage product switch online, you should know:

The details of the product you’re looking to apply for and be comfortable to choose your own mortgage product without our advice. You will be able to view available products within the online journey.
How you will pay if you choose a mortgage product with a fee — for example, this could be upfront or added to the loan. If you choose to add the fee to the loan, you will pay interest on this fee over the full term of your mortgage.
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. Call charges

If you have a Co-operative Bank mortgage please select the link below.

If you previously had a Britannia mortgage, use the switch form below. You will need to use the account number referenced in your product maturity letter.

If you previously had a Platform mortgage, use the switch form below. All customers have been sent a new 8 digit account number.

Apply to switch online

Alternatively, view our rates before you switch

If you want to view all of the mortgage products available to you and see how much your monthly repayments might be, view our mortgage rates first.

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

View our Residential rates View our Buy to let rates

View our Help to buy rates

Request an Existing Mortgage Customer Advice Appointment

If you would like a telephone appointment for mortgage advice, please submit a request for a call back. Our team will contact you to arrange an appointment.

If your mortgage falls into one of the below categories, please do not submit this form, and instead call us on 08000 288 288 call charges to discuss your options:

Shared Ownership/Shared Equity
Help-to-Buy
Buy-to-Let
The mortgaged property is not your main residence
You have mortgage and/or ground rent/service charge arrears
Your mortgage balance includes a debt recovery cost
The mortgaged property is located in Guernsey.

The call back service is if you want advice on your mortgage switch. Please don't submit a request if you require the Information Only service. Information Only is available through our online product switching service or by calling us direct.

Request a call back

Apply to switch by telephone

If you’d prefer not to apply online, are not eligible to apply online, or would like to receive mortgage advice, you can apply to switch by telephone. Should you want advice, you will need: