Rate Switches and Product Transfers with Whitewood Mortgages
whitewood Mortgages
Make Your Mortgage Work Harder for You
If your current mortgage deal is coming to an end, or you’re already on your lender’s
standard variable rate (SVR), switching to a new rate could save you money every
month. At Whitewood Mortgages, we make it easy to review your options and switch
to a better deal without unnecessary hassle or stress.
Whether you’re staying with your current lender or exploring other options, we’re
here to help you understand what a product transfer involves and whether it’s the
best move for you. We proudly serve clients across Lytham St Annes, Freckleton,
Warton, Blackpool, Poulton and Preston, providing local, personalised advice you
can trust.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
Read our full Disclaimer Here
What Is a Rate Switch or Product Transfer?
A rate switch (also known as a product transfer) is when you move from one
mortgage deal to another with the same lender. Instead of applying for a brand-new
mortgage, you’re selecting a new product from your lender’s range.
These switches are typically offered when your current fixed or discounted rate is
coming to an end. If you don’t act, your mortgage may automatically revert to the
lender’s SVR, which is usually more expensive.
Switching to a new rate in time can protect you from unnecessary increases in your
monthly payments.
Why People Move
We work with a wide range of clients who are moving home for different reasons:
– Needing more space for a growing family
– Downsizing after children have moved out
– Moving closer to good schools, work or family support
– Seeking a more peaceful lifestyle in villages like Warton or Freckleton
– Wanting to live near the coast in Lytham St Annes or Poulton
– Relocating for new job opportunities in Preston or Blackpool
– Selling a shared home following life changes such as divorce or separation
Each move comes with its own considerations, and our role is to make sure your
mortgage works for your needs now and in the future.
Things to Consider Before Switching
Early Repayment Charges (ERCs)
Some mortgages have penalties for leaving early. If your current deal hasn’t ended
yet, we’ll check if any fees apply and whether switching still makes financial sense.
New Rate Type
You might want to change from a fixed rate to a tracker, or vice versa. We’ll explain
the differences and help you choose a product that fits your goals.
Mortgage Term
A rate switch is also a good time to review your remaining mortgage term. You might
want to extend it to lower monthly payments or shorten it to pay off your mortgage
faster.
Changing Circumstances
Your income, outgoings or future plans may have changed. Even if a product transfer
is straightforward, it’s worth checking that the new deal suits your lifestyle.
How We Help at Whitewood Mortgages
We make rate switching simple for clients in Lytham St Annes, Freckleton and
Warton, Blackpool, Poulton and Preston. Here’s what we do:
Review your current deal
We check your mortgage balance, current interest rate, and whether early
repayment charges apply.
Compare product options
We look at what your lender offers and whether it’s suitable for your needs.
Assess remortgage alternatives
Even though you’re considering a switch, we’ll still compare what other
lenders can offer.
Explain the options clearly
No jargon. No pressure. Just clear advice to help you choose with confidence.
Submit the switch for you
Once you decide, we handle the application and paperwork so everything
runs smoothly.
Who Can Benefit from a Product Transfer?
- Homeowners with deals ending soon. If your fixed or discounted period is ending, switching early can protect you from rate hikes.
- Clients who want minimal hassle. If you want to avoid paperwork, affordability checks or delays, a product transfer is often the quickest option.
- Those with changes in credit history. If your credit score has dipped, staying with your current lender may be easier than applying elsewhere.
- Borrowers with interest-only mortgages. Some interest-only borrowers find it harder to remortgage. A product transfer may be a better route.
Why Use a Broker for a Simple Switch?
Even if you’re staying with the same lender, it pays to get advice. At Whitewood Mortgages, we make sure:
– You understand all available options
– If your new purchase price is higher, what additional borrowing you’ll need
– You avoid paying more than you need to
– Your mortgage continues to suit your long-term plans
It might seem simple, but choosing the wrong deal could cost you thousands over time. That’s why it’s worth checking in with us first.
Contact us
Ready to Review Your Rate?
Whether you’re looking to fix your payments, reduce your costs or avoid the SVR, we’re here to help. Get in touch with Whitewood Mortgages today for a free, no-obligation review of your current deal.
We help clients across Lancashire, including Lytham St Annes, Freckleton and Warton, Blackpool, Poulton and Preston and beyond, to make confident, informed decisions about their mortgages. We make switching fast, simple and stress-free – and you’ll always know you’ve made the right choice for your circumstances.
Disclaimer
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Some buy to let mortgages are not regulated by the Financial Conduct Authority.
As with all insurance policies, conditions and exclusions will apply.
Whitewood Mortgages is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, Which is
authorised and regulated by the Financial Conduct Authority.
Proprietor: Marc Bennett Mortgage Broker Based in Lytham St Annes covering the
whole of the Fylde coast including Blackpool.
Mortgage Broker Blackpool
Registered Office: Whitewood Mortgages, 7 Orchard Road, St Annes-on-sea, Lancs FY8 1RY.
The Information on this website is subject to the regulatory regime and is therefore targeted at
consumers in the UK. No representations are made as to whether the information is applicable
in any other country which may have access to it.
Typically we charge an arrangement fee of £495.00, however the precise amount is dependent on your
circumstances and will not exceed 1.5% of the mortgage amount.
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Email us
marc@whitewoodmortgages.co.uk
Address
7 Orchard Rd,
Lytham Saint Annes
FY8 1RY
Call Us
01253 800 345