Switching Mortgages

If your current mortgage deal is ending, or you are on our Standard Variable Mortgage Rate, then you might be wondering how to switch your mortgage to a better or more suitable deal. Read on below to find out more about switching mortgages with Newcastle Building Society.


What happens when my mortgage deal ends?

If you do nothing when your current mortgage deal comes to an end, your mortgage will usually revert to our Standard Variable Rate. As a valued Newcastle Building Society customer, you have the option to switch your mortgage to one of our other fantastic mortgage deals.

All existing customers have access to the same products available to new customers; however, eligibility for these products will depend on your personal circumstances and our lending policy.

How to switch your mortgage

The easiest way to find out whether you can switch to a new mortgage deal, and arrange to switch your mortgage, is to speak to of our team of qualified mortgage advisers.

Your ability to switch mortgage products will depend on a number of factors, including the value of your property, the amount of your loan which is still outstanding, and whether your circumstances meet our lending criteria. Our qualified advisers will be happy to talk you through everything, including whether you will be able to switch your mortgage, and which is the best mortgage deal available that suits your needs.

To get an idea of which mortgage deal could be right for you before speaking to one of our advisers, you can compare all of our mortgages to see the options currently available for your budget.

What happens if I don’t switch to a new mortgage deal?

If, after discussing your options with one of our mortgage advisers, you decide that you don’t wish to switch to a new deal, your mortgage will revert to our Standard Variable Rate. This product offers you the flexibility of being able to make regular overpayments, with the added incentive of no early repayment charges and no transfer costs.

Please note that any variations currently applied to your interest rate will continue to be applied to the Standard Variable Rate in line with the terms of your original mortgage contract.

Remortgaging to Newcastle Building Society

If you are not already a customer with us, but are considering taking out a remortgage on your home, you may consider remortgaging to us. We also have lots of helpful information on the process of remortgaging including the things to consider when remortgaging, and the most frequently asked questions about remortgaging, to help you make an informed decision.

Whether you are considering making the switch to a new mortgage deal, or remortgaging to Newcastle Building Society, one of our team of qualified mortgage advisers would be pleased to speak with you. Call us or book an appointment at your local branch now.

Call us now to find out more or to arrange an appointment

Talk to our mortgage advisers

0345 606 4488

8am - 8pm Monday to Friday 9am - 3pm Saturday (Calls to 0345 numbers, cost the same as a call to a standard ‘01’ or ‘02’ landline number, even when calling from a mobile.)

Your mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.