How switching works

Banks and building societies tend to gain custom by enticing homeowners with eye-catching rates that only last for an initial period (typically between 2 and 5 years).

But, when this period comes to an end, you run the risk of rolling onto their uncompetitive Standard Variable Rate (SVR) and paying well over the odds. It can be very costly if you don’t switch at the right time.

How Mortgage Rewards helps

When you sign up to Mortgage Rewards, you'll register some basic information about your mortgage. Your mortgage is then tracked, and you'll receive alerts as the time to switch approaches. Your broker can then review your circumstances and advise you on the best rate available, including the possibility of remortgaging to an alternative lender (if this makes more financial sense than remaining with your current mortgage lender).