Back to

Take a closer look at rate switch

We’ve made it even simpler and straightforward to move your clients onto a new product with our rate switch service in Mortgage Hub.

We previously announced that both new mortgage applications and rate switches (formerly product transfers) can now be done all in one place on our bespoke platform.

Completing rate switches through Mortgage Hub makes life easier for you (and your clients):

  • A better experience: A user-friendly interface with intuitive automation to make the entire process smoother.
  • Immediate results: Save time with instant illustrations - in the vast majority of cases, receive offers straight away.
  • Comprehensive case tracking: Get real-time updates on the progress of your rate switch applications using Mortgage Hub’s case tracking functionality.
  • A paperless journey: Easily upload important documents directly through Mortgage Hub. And we no longer require a signed offer acceptance form from your client.
  • Simplified identification: Experience a more streamlined process to find existing customer records.
  • More accurate valuations: We’ll now be using Automated Valuation Model (AVM) data for increased accuracy. But when required, you can initiate a valuation challenge via Mortgage Hub without the need to call us.
  • 180-day rate switch window: Requests can currently be submitted up to 180 days before the end of your client’s existing deal.

We’ve updated our website FAQs to support you with rate switches in Mortgage Hub. These will help you to:

  • Simplify your rate switch submission
  • Complete the ‘estimated value of share’ screens for Shared Ownership and Shared Equity switches
  • Support your clients when staircasing to 100% on a Shared Ownership property

Martese Carton, Director of Mortgage Distribution at Leeds Building Society, said: “Our goal is to support brokers guide existing mortgage customers to easily switch to a new rate when they reach the end of their term.

“Following feedback we’ve received from our intermediary partners, we’ve updated our website FAQs and we hope this helps simplify the journey for you. We’re always listening and use your feedback to help us improve the service we offer. If you need any further support, please contact our BDMs or use our Broker Chat facility.”

Read more about moving your clients to a new product on our dedicated rate switch page.

Please note:

Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let & Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including, without limitation, the provision of adequate explanations.

Back to 2023 News

Help

Our Mortgages