Switching Mortgage Deal | Mortgages | YBS

Switching deal
If your existing mortgage deal is coming to an end or you want to switch to another deal, we've got a range of mortgages to choose from.
Early Repayment Charges and other fees and charges may apply.
How does it work?
We send a reminder
Review your options
To compare monthly payments you can retrieve your mortgage online, you just need your mortgage account number. You'll find this on any letter we've sent about your mortgage.
Need help deciding? Speak to one of our experts.
Switch your deal!
You can do this online or over the telephone. Once you’ve made your choice and paid any fees we will confirm your new deal. You'll receive a letter confirming your changes.
Once you’ve accepted your new deal, this is binding. The only exception to this is if the interest rate reduces before your new deal starts.
For example: A 2 year fixed deal at 6.99% (75% LTV, £995 fee and free valuation) is withdrawn and replaced with a 2 year fixed deal at 6.49% (75% LTV, £995 fee and free valuation). The only change here is the rate. The other features of the deal have stayed the same.
It’s your responsibility to check our current range of deals before your new deal starts.
It’s also your responsibility to ask to switch your deal. You can switch your deal as many times as you like until up to 2 weeks before your new rate begins. You can log in to your YBS mortgage at any time to check our current deals.
Reasons to stay with us
Award winning
We have a string of awards from Best Overall Mortgage Provider to Best First Time Buyer Mortgage Provider.Part of the community
From educational programmes to improving financial literacy and supporting people in challenging situations.Reasons to switch your deal
6 reasons why switching is so easy!
You can reserve your new deal
You can reserve a new deal up to 120 days before your current deal ends. If Early Repayment Charges apply, you can even delay switching until they no longer apply!
You can switch quickly
If you'd prefer, we can switch your deal in just over a week. It commonly takes between 4 to 8 weeks if you were to move to another lender.
We've already checked your eligibility
Save yourself from the pain of reapplying all over again, because we only offer you deals that we know you're eligible for.
There's no credit check
Switching your deal with us will not affect your credit rating. Remortgaging with another lender would.
There's no need for a house valuation
Since you already have your mortgage with us.
There's no need for a solicitor
You won't need a solicitor to help you switch deal. You will if you remortgage with another lender.
What happens if I don't switch?
If you don't do anything then your mortgage will go onto our Standard Variable Rate (SVR).
- Your mortgage payments could go up or down
- You can make unlimited overpayments
- You can pay your mortgage off early without any Early Repayment Charges
Things to consider
Quick checklist
If the mortgage is in joint names you must have the authority to switch deal on behalf of all applicants.
The property should be your main residence.
Your mortgage must have less than one month's arrears and have no more than one missed payment in the last 12 months.
We are unable to offer the following online:
Making changes to interest only mortgages.
Moving from another mortgage provider.
Changes to term or repayment type.
Borrowing more or making a lump sum payment.
If you are trying to do any of these, please call us.
Ready to switch?
Online
You just need your mortgage account number. You'll find this on any letter we've sent you about your mortgage.
If you are an employee of Yorkshire Building Society, you’re not able to switch online, please call us on 0345 166 9510.
No
Over the phone
Talk to one of our friendly advisers.
It's your choice
0345 166 9510*
9am - 5pm Mon-Fri
9am - 1pm Sat
Frequently asked questions
When you have more than one mortgage part, we will contact you about each part that is maturing and let you know the products that are available for each one.
If you have more than one mortgage part and these each have different product end dates, then you may be offered an alternative product range for each, as they are designed and created specifically for the time your existing deal ends.
If you have more than one part to your mortgage and the products end in the same month, then you will be offered the same product range for each, so you can take one product and apply this across all applicable parts.
If you have more than one part to your mortgage and your products end in different months, then you may be offered an alternative product range for each, as they are designed and created for different points in time. However, if aligning your part end dates is your priority, you will be able to do this once all parts are on our Standard Variable Rate (SVR). This would mean that you may have a higher monthly payment than if you secured a new product before your deal ended, so you’ll need to have a think about whether if this is the right option for you.
Yes you can switch to a new product before your current deal ends, but Early Repayment Charges (ERCs) may apply.
If you choose to switch early, we will share with you what products are available. If you have a part where the product is maturing, and you also have a part that is still within deal, then you will have different product ranges to choose from for each part.
If you have more than one part of your mortgage maturing in the same month that doesn’t meet the minimum loan size of £3000, you may be able to combine the balances of each to take a new product (as long as this combined total exceeds the minimum loan amount).
If you have one part maturing where the balance is below the minimum loan amount, but your total mortgage balance exceeds the minimum, you may be eligible for a product in the future:
- For customers with part(s) on Standard Variable Rate (SVR) – If you can combine the part(s) on SVR with the maturing part below the minimum loan amount to meet the minimum loan size, you will be able to choose a new product once that part has matured.
- For customers with part(s) tied into products - If you have a part maturing with a balance below the minimum loan amount, but your total mortgage balance is over the minimum loan amount (although tied into other products), you will be able to choose a new product once other parts have matured and are on our SVR.
How to switch your mortgage
There are two ways you can apply to switch your mortgage deal with Yorkshire Building Society:
- Without advice ('execution only') – online.
- With advice over the phone.
Switching your mortgage deal online without advice
If you apply to switch your mortgage deal online, it is known as an 'execution only' application. It’s designed for those customers who have a good understanding of the mortgage application process and can be confident they will be able to choose a product that’s suitable for their needs.
It does mean that you won't be eligible to receive advice on your mortgage switching application. But if you change your mind and decide you would like some advice once you’ve started your application, you can swap how you apply from online to over the phone.
Before applying to switch your deal online, you must be aware of the following:
- The product you wish to apply for including the interest rate and its term.
- Interest rate type e.g. fixed, or variable.
- The early repayment charges associated with the product.
- The price or value of the property you are looking to purchase or remortgage.
- The loan amount you want to borrow.
- The length of term required.
If you choose a mortgage without advice (execution only)
- You should be comfortable choosing the right mortgage without our advice.
- We won’t advise if the mortgage you select is the right choice for your needs, which means that you’ll be giving up the benefits of Financial Conduct Authority protection on mortgage suitability.
- We will still assess whether you can afford the mortgage.
If you are unsure on any of the above, switching your mortgage deal with advice may be more suitable for you.
Benefits of receiving mortgage advice
A mortgage is likely to be the largest financial commitment you make in your life, therefore you may benefit from speaking to one of our mortgage advisers over the phone.
A mortgage adviser will be able to review your incomings and outgoings and make a suitable mortgage term and product recommendation to suit your individual needs.
An adviser will be able to provide guidance on the following, amongst other points depending on your circumstances and needs:
- Mortgage term.
- The interest rate on your chosen mortgage deal vs the product fee you may have to pay for selected deals where the interest rate is lower.
- The affordability of the loan.
- If a fixed or variable rate would best suit your circumstances.