Cambridge Building Society Mortgage Rate Switch / Product Transfers
There are many reasons why clients want to do a rate switch / product transfer instead of doing a remortgage. Many clients just do not want to go through the hassle of the legal work involved with a remortgage. Others have built up a long term relationship with their lender and are happy so do not want to move
Other clients circumstances have changed so that getting a remortgage and going to another lender is not feasible. They might have just gone self employed and do not have adequate income proof. They may have a reduction in income due to going part time or starting a family.
Product Transfers and Rate Switches do not usually involve credit searches so if a clients credit profile would prevent a remortgage then in most cases provided their mortgage payments are up to date their existing lender will allow a rate switch.
Not all lenders allow rate switches and product transfers. However the number of lenders allowing this has grown significantly over the last few years. As a whole of market broker we can compare what is available via your existing lender and what deals are also available from the whole market for you.
Why move your mortgage from Cambridge Building Society?
Most of the time, the standard variable rate (SVR) is much higher than what can be offered from your current mortgage lender. With Cambridge Building Society, our company can switch your rate to prevent it from going onto the SVR and as a result, save you money on your monthly payment. However, if the product is not as competitive as other mortgage lender in the mortgage market, we will then consider remortgaging to a different provider from the mortgage market instead of doing a product transfer.
Cambridge Building Society, also known affectionately as “Your Cambridge” has been a part of the community since 1850. They are known for their strong customer satisfaction rate and core values. They count themselves as committed to the community and provide help to work with and enrich local charitys they work with.
The next steps to process the rate switch with Cambridge Building Society is a simple process and will just require you to follow the following steps;
- Fill in the online enquiry form
- We will then contact you to discuss the options available to you.
- Confirm that you are happy to proceed with the information we provide you and we will then accept the new rate for your mortgage.