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Switch to a new Nationwide mortgage

If you'd like to switch your current Nationwide mortgage to a different one, it's easy. Just make sure you're eligible and that you've read through the important things to consider below.

Are you eligible to switch?

You can switch your Nationwide mortgage if:


  • you have 2 or more years left on your mortgage term
  • your mortgage is not in arrears
  • your property is not being let out
  • your remaining mortgage balance is £5,000 or above*

*if the balance of any of your mortgage accounts is less than £5,000, but the total balance of all accounts is more than £5,000, please give us a call before you switch any of your accounts on 0800 30 20 10 - you may still be able to switch.

Early Repayment Charges 

An Early Repayment Charge (ERC) may apply if you switch your mortgage during your deal period.  

If you're within 3 months of your deal ending, or on our Base or Standard Mortgage Rates, or you're on a tracker mortgage with a 'switch and fix' option, you won't need to pay an ERC.  

Not sure if an ERC applies to you? Check your mortgage offer or give us a call on 0800 30 20 10.

Fees and features

Your new mortgage may come with a product fee and it may also have different features than your current mortgage.

As of 4 March 2010, our mortgages no longer include payment holiday or borrow back options.

You can see all mortgage deal features and fees by searching our mortgage rates.

Important things to consider before switching

Changing to and from BMR and SMR rates
The SMR and BMR are variable rates, which we may vary in accordance with our mortgage terms and conditions. Our BMR is guaranteed to be no more than 2% above the Bank of England Base Rate. The SMR has no upper limit or cap.


  • If you switch from our BMR rate to a new mortgage, you won’t be able to switch back to the BMR at a later date and you'll also lose any right to borrow back (if you already have this facility).
  • If you reserved your fixed or tracker product through Nationwide on or before 29 April 2009, through Derbyshire on or before 30 May 2009, or through Cheshire on or before 14 June 2009, you'll move on to the Nationwide Base Mortgage Rate (BMR).

How an overpayment reserve is relevant when switching

If you took out a mortgage before 4 March 2010 and have built up an overpayment reserve by making overpayments, you may want to capitalise this reserve when switching. If you’re not sure, you can check your original mortgage offer or give us a call on 0800 464 3044 and we’ll be able to check for you.

Any payments you've made over and above your normal monthly payment will be deducted from the total amount outstanding, but we actually keep it in a separate pot known as an overpayment reserve. We keep this separate so you can choose how you want to use it in the future. It may be that you want to borrow it back, take payment holidays or underpay for a period of time (eligibility applies). If you're now looking to switch mortgage and have an overpayment reserve you have 2 options to choose from:

  • You can transfer your overpayment reserve into your outstanding balance. This may result in:
    • a lower LTV as your balance has reduced - this means you may be able access a wider range of products including some at a lower rate (subject to availability)
    • losing your overpayment reserve.
  • You can keep the overpayment reserve. This means:
    • we'll include your overpayment reserve in our calculation, which may result in a higher LTV and possibly higher rate products.

We will be carrying out planned maintenance to our mortgage application systems between 9:30pm Friday 3rd March and 6am Monday 6th March. During this time, the service will be unavailable and you will be unable to apply or continue a saved application for a mortgage over the phone, in any of our branches or online. We're sorry for any problems this may cause.

YOUR MORTGAGE IS SECURED ON YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DON'T KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgages are subject to underwriting and criteria. Minimum age 18, UK residents only.