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Submitted URL: http://lloydsbank.co.uk/options
Effective URL: https://www.lloydsbank.com/mortgages/existing-customers/switching-deals.html?utm_source=MTG&utm_medium=DM&utm_campaign=Cess...
Submission: On October 16 via api from GB — Scanned from GB
Effective URL: https://www.lloydsbank.com/mortgages/existing-customers/switching-deals.html?utm_source=MTG&utm_medium=DM&utm_campaign=Cess...
Submission: On October 16 via api from GB — Scanned from GB
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* Accessibility statement [Accesskey '0'] Go to Accessibility statement * Skip to Content [Accesskey 'S'] Skip to main content * Skip to site Navigation [Accesskey 'N'] Go to Navigation * Go to Home page [Accesskey '1'] Go to Home page * Go to Sitemap [Accesskey '2'] Go to Sitemap * Personal * Business * Private Banking * International Banking * Lloyds Bank Logo * Lloyds Bank Logo * Menu Close * Everyday banking Online services & more -------------------------------------------------------------------------------- Everyday banking * How to get online How to get online * Set up the Mobile Banking app * Register for Internet Banking * Log on to Internet Banking * Reset your logon details Everyday banking * Mobile Banking app Mobile Banking app * Setting up our app * Biometrics * App notifications * Profile & settings Profile & settings * Change your telephone number * Change your address * Open Banking * Card & PIN services Card & PIN services * View your card details * Report your card lost or stolen * Order a replacement card * View your PIN * Payments & transfers Payments & transfers * Daily payment limits * Pay someone new * Cancel a Direct Debit * Pay in a cheque * Send money outside the UK * Statements & transactions Statements & transactions * See upcoming payments * Search transactions * Download statements * Help & security We're here for you -------------------------------------------------------------------------------- Help & security * Fraud & security Fraud & security * Latest scams * Lost or stolen card * Unrecognised transactions Help & security * Money management Money management * Understanding credit * Managing someone's affairs * Financial planning * Life events Life events * Buying a home * Getting married * Family finances * Redundancy * Separation & divorce * Retirement * Bereavement * Difficult times * Money worries * Mental health support * Gambling * Financial abuse * Serious illness * Customer support Customer support * Support & wellbeing * Banking online * Accessibility & disability * Contact us * Banking with us * Feedback & complaints * Current accounts Accounts & services -------------------------------------------------------------------------------- Current accounts * Current accounts Current accounts * £175 Switching Offer * Club Lloyds Account * Classic Account * Silver Account * Club Lloyds Silver Account * Platinum Account * Club Lloyds Platinum Account * Youth & student accounts * Joint accounts * Compare our current accounts Current accounts * Travel services Travel services * Using your card abroad * Travel money * Send money outside the UK * Features & support * Switching to Lloyds Bank * Everyday Offers * Rates & charges * Save the Change * Current account help & guidance Already bank with us? * * Existing customers * Upgrade options * Overdrafts * Payments & transfers * Mobile banking * Borrowing Cards, loans & car finance -------------------------------------------------------------------------------- Borrowing * Credit cards Credit cards * Credit card eligibility checker * Balance transfer credit cards * Large purchase credit cards * Everyday spending credit cards * World Elite Mastercard ® * Cashback credit card Borrowing * Loans Loans * Loan calculator * Car loans * Debt consolidation loans * Home improvement loans * Holiday loans * Wedding loans * Car finance Car finance * Car finance calculator * Car finance options * Car refinance * Car leasing * Features & support * Credit cards help & guidance * Loans help & guidance * Car finance help & guidance * Borrowing options * Understanding credit Already borrowing with us? * * Existing credit card customers * Existing loan customers * Existing car finance customers * Money worries * Mobile banking * Banking online * Mortgages Accounts & calculators -------------------------------------------------------------------------------- Mortgages * Mortgages Mortgages * First time buyers * Moving home * Remortgage to us * Existing Lloyds Bank mortgage customers * Buying to let * Equity release Mortgages * Mortgage calculators & tools Mortgage calculators & tools * Mortgage calculator * Remortgage calculator * Get an agreement in principle * Base rate change calculator * Overpayment calculator Mortgages * * Features & support * Mortgage help & guidance * Eco Home Reward * Eco Home offers * Mortgage protection * Contact us Already with us? * Existing customers Existing customers * Manage your mortgage * Switch to a new deal * Borrow more * Switch deal & borrow more * Moving home * Help with your payments * Learn about Home Wise * Your interest only mortgage * MORTGAGE SUPPORT Worried about paying your mortgage? 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Get support * Savings Accounts & ISAs -------------------------------------------------------------------------------- Savings accounts * Savings accounts Savings accounts * Instant access accounts * Fixed term accounts * Children's accounts * Joint savings accounts Savings accounts * ISAs ISAs * Cash ISA Saver * 1 Year Fixed Rate Cash ISA * 2 Year Fixed Rate Cash ISA * Help to Buy ISA * Stocks & Shares ISA * Junior Cash ISA * Investment ISA * Features & support * Savings calculator * Save the Change® * Savings help and guidance * ISAs explained * Savings interest rates Already saving with us? * Existing customers Existing customers * Top up your ISA * Transfer your ISA * Investing Pensions & investments -------------------------------------------------------------------------------- Investing * Investing Investing * Compare investing options * Share Dealing ISA * Share Dealing Account * Pick your own investments * Ready-Made Investments Investing * ETF Quicklist * Introducing our ETF Quicklist * View our ETF Quicklist Investing * Pensions and retirement Pensions and retirement * Combining your pensions * Pension calculator * Personal pension * Transfer your pension * Self-Employed Investing * Wealth management Wealth management * Benefits of financial advice * Services we offer * Cost of advice * Guides and support * Understanding investing * Boost your skills * Research the market * Investing help and guidance Already investing with us? * * Log on to Share Dealing * Log on to Online Banking * Understanding share dealing charges * FREE REGULAR INVESTING Start your investment journey with free regular investing and our ETF Quicklist. Show me how * Insurance Home, life & car -------------------------------------------------------------------------------- Insurance * View all insurance products View all insurance products Insurance * Home insurance Home insurance * Get a home insurance quote * Compare home insurance * Buildings & contents insurance * Contents insurance * Buildings insurance * Retrieve a home insurance quote * Home insurance help & guidance * Manage your home insurance policy Insurance * Car insurance Car insurance * Compare car insurance * Car insurance help & guidance * Log on to My Account to manage your car insurance * Life insurance Life insurance * Life cover * Critical illness cover * Mortgage protection insurance * Life cover help & guidance * Other insurance * Business insurance * Van insurance * Landlord insurance * Claims * Make a home insurance claim * Make a life insurance claim * Make a car insurance claim Already insured with us? * Support for existing customers * Help with your existing home insurance * Help with your existing life insurance * Help with your existing car insurance * CAR INSURANCE Get 60 days of European Union cover as standard with Lloyds Bank. Terms and conditions apply. Get a quote now * Help & Support * Branch Finder * Accessibility and disability * * Search Close Close Conduct a search When autocomplete results are available, use up and down arrows to review and enter to select. Clear Search Search Submit * Log on Internet Banking Personal Business Register Keep me secure * Home * ... * Mortgages * Existing customers * Switching deals SWITCH TO A NEW DEAL FROM HOME, WITHOUT THE FUSS If you already have a Lloyds Bank mortgage, it’s simple to set up your next deal online or over the phone. SWITCH DEALS, THE FASTER WAY If your current Lloyds mortgage is coming to an end, here’s the quickest way to set up your new deal. We’ll show you all the deals that are available to you. Choose the one you like the look of, answer a few simple questions and get an answer in around 10 minutes. If you are not in the last 3 months you may be charged an ERC. If you start to apply online but decide you’d like some help, our expert advisers are always ready to support you. Find your new deal online * Getting a new deal is easy. Get an answer in around 10 minutes. * Switch deal today or start later. Secure an interest rate up to six months before your current deal ends. * No Early Repayment Charges. If you’re in the last three months of your current deal, we’ll waive all early repayment charges as a thank you for staying with us. * No legal fees or valuation charges. * A bonus for our Club Lloyds customers. Get an exclusive 0.20% discount when you switch to a new Lloyds Bank mortgage. Find out more. YOU COULD LOSE YOUR HOME IF YOU DON’T KEEP UP YOUR MORTGAGE REPAYMENTS ALREADY STARTED YOUR SWITCH? Ready to continue? Log back on and we’ll send a passcode to your mobile device so that you can quickly pick up from where you were. Log on and continue NEED TO SPEAK TO US? If you need some help and would like to speak to us now, you can call us on 0345 122 1337 to speak to an adviser. We're open Monday to Friday 8am to 8pm, Saturday 9am to 4pm, we’re closed Sundays and Bank Holidays. FREQUENTLY ASKED QUESTIONS * 1. Jump to What should I do if my current deal is ending soon? * 2. Jump to Which variable rate will apply when my deal ends? * 3. Jump to When can I switch deals? * 4. Jump to How do I know which deal to choose? * 5. Jump to How do you decide what deals to offer me? * 6. Jump to How can I find the energy efficiency of my property? * 7. Jump to How can I apply? * 8. Jump to What do I need to apply online? * 9. Jump to What happens when I apply for a new deal? * 10. Jump to What happens when I proceed with an application? * 11. Jump to What happens if I change my mind? * 12. Jump to Will I have to pay any early repayment charges? * 13. Jump to Will I be charged any fees? * 14. Jump to Can I borrow more or make changes? * 15. Jump to If I move home during the fixed rate period, can I keep my new deal? * 16. Jump to How can I protect my mortgage? * 17. Jump to Do I qualify for the Club Lloyds discount? * 1. WHAT SHOULD I DO IF MY CURRENT DEAL IS ENDING SOON? We’ll be in touch before your current deal ends to let you know about your options. If you want to switch to a new deal, you can secure a new rate up to six months before your current one ends. You can start your new rate straightaway or wait until your current deal ends. If you choose to start your new deal straightaway and there's more than three months left on your current deal, you may have to pay early repayment charges. If you decide not to switch, we’ll automatically move you onto one of our variable interest rates when your current deal ends. Staying on this variable rate may cost you more each month. And your interest rate and monthly payment could also go up or down from month to month. So, it’s a good idea to check if switching to a new rate is better for you – as if rates go up, you could end up paying more for your mortgage each month than you budgeted for. To help you understand your options, we’ve compared the different types of rates. If you have any questions, you can call us on 0345 603 1637. Back to top * 2. WHICH VARIABLE RATE WILL APPLY WHEN MY DEAL ENDS? Your offer letter will tell you the lender variable rate that will apply at the end of your current deal. This is usually the Homeowner Variable Rate. However, if you applied for your current deal before 1st June 2010 it could be the Standard Variable Mortgage Rate. The Standard Variable Mortgage Rate is no longer available so if you choose to switch deals, you will never be able to go back to the Standard Variable Mortgage Rate. Back to top * 3. WHEN CAN I SWITCH DEALS? If you're on a fixed rate: You can arrange a new deal up to six months before your current one ends. Once you’ve arranged your deal and secured your interest rate, you can: * Wait until your current deal ends * Move to the new rate straightaway If you move to your new rate and there are more than three months left on your current deal, we may charge you early repayment charges. Depending on your current monthly payments and the new deals available, you may save money by switching even if you need to pay early repayment charges. You can check how much these charges would be in your original offer letter, latest mortgage statement or by giving us a call 0345 603 1637. If you're on a lender variable rate: You can arrange to switch to a new deal at any time without paying any early repayment charges. Back to top * 4. HOW DO I KNOW WHICH DEAL TO CHOOSE? Our current mortgage deals are based on how much you owe on your mortgage in relation to how much we think your property is worth. This is known as your loan to value (LTV) and it is expressed as a percentage figure. Use our mortgage calculator to view our current deals and compare monthly payments. If you apply online you will need to decide which deal suits your circumstances best. If you would like to talk to a mortgage adviser please ask us to call you back. Back to top * 5. HOW DO YOU DECIDE WHAT DEALS TO OFFER ME? As a responsible lender we’ll make decisions based on understanding your individual circumstances. We’ll create tailored mortgage offers based on a number of factors; including your current credit score, usage of your accounts and in some cases, the energy efficiency of your property. Back to top * 6. HOW CAN I FIND THE ENERGY EFFICIENCY OF MY PROPERTY? The energy efficiency of your property is measured by its Energy Performance Certificate rating (EPC). Further information is available on our Eco Home Hub. Back to top * 7. HOW CAN I APPLY? If you want to apply for a new deal, you can choose the way to apply. If you would like to talk to a mortgage adviser please ask us to call you back. You’ll be asked about your needs and circumstances. This will enable our mortgage adviser to recommend the most suitable deal for you. If you have any interest only borrowing and you are looking for a new deal, we may ask you to provide suitable documentary evidence of any repayment plan you have in place. You are responsible for making sure that you have a lump-sum available to repay any interest-only loans at the end of the mortgage term. You can also apply online but if you do, you cannot get our advice and will have to make your own choice about the most suitable product to suit your needs. Back to top * 8. WHAT DO I NEED TO APPLY ONLINE? If you want to apply online it'll take about 10 minutes and you'll need your mortgage account number to hand. Check your latest mortgage statement or logon to Internet Banking to view your mortgage account number. If you're not registered for Internet Banking yet, it's easy and only takes about 5 minutes. Find out how to register. Back to top * 9. WHAT HAPPENS WHEN I APPLY FOR A NEW DEAL? If you apply in branch to switch to a new deal you will receive an illustration showing your new monthly payment and a declaration. As you have received advice, you will also receive a Reasons for our Recommendation letter. If you apply over the phone then you will receive an illustration showing your new monthly payment and a declaration in the post and by email (if you have provided an email address). As you have received advice, you will also receive a Reasons for our Recommendation letter. If you apply online you will be able to view your illustration showing your new monthly payment and declaration online, you can also accept your new deal electronically. We’ll send you paper copies in the post for your records. Sometimes we’ll ask you to transfer the whole of your mortgage onto our latest mortgage conditions. If we do, you'll get a copy of these at the same time as you get the illustration and declaration. Take time to read all these documents before you agree to the transfer - they are really important. If you have any interest only borrowing and you are looking for a new deal, you must have a repayment plan in place and apply over the phone or in branch. We may ask you to provide suitable documentary evidence. You will need to agree to proceed with your application before we can make you a formal offer. Back to top * 10. WHAT HAPPENS WHEN I PROCEED WITH AN APPLICATION? When you agree to proceed with the application we will make you a formal offer. You should read your offer carefully to make sure you are still happy to go ahead. You do not need to do anything else unless you change your mind. We will send you a letter telling you when the transfer will take effect from and when we will start collecting your new monthly payment. Product transfers usually happen on the first of the month after you make your application. However, sometimes it can take a little longer, for example if you make your application near to the month end or you don’t return any paperwork quickly. If this happens, the transfer will usually take effect from the first of the second month after you make your application. Back to top * 11. WHAT HAPPENS IF I CHANGE MY MIND? If you change your mind after submitting your application you will need to contact us immediately. Back to top * 12. WILL I HAVE TO PAY ANY EARLY REPAYMENT CHARGES? Check your latest statement or sign in to Internet Banking, to see if there will be any early repayment charges to pay, if you switch some or all of your mortgage to a new product. As a current concession, early repayment charges that would otherwise be triggered by the switch are waived if there are 3 months or less to run on your existing deal. This waiver does not apply to other transactions which might trigger the payment of an early repayment charge, such as a lump sum overpayment. If your existing deal has more than 3 months left to run, you can still switch your deal, but the waiver would not apply, so you may have to pay early repayment charges. Find out more about early repayment charges. Back to top * 13. WILL I BE CHARGED ANY FEES? If you switch with us, you won’t need to pay any legal fees or need a new valuation. Depending on the mortgage deal you choose, we may charge you a fee, called a product fee. You can pay this fee up-front, or you can add it to the total mortgage amount. If you add it to your mortgage, we’ll charge interest on it at the same rate as the rest of your borrowing. You can check our current deals for more information. Back to top * 14. CAN I BORROW MORE OR MAKE CHANGES? If you are looking to borrow more at the same time as switching to a new deal, or you want to make a change to the term or repayment type of your existing mortgage, you will have to contact us to discuss your needs and circumstances with a qualified mortgage adviser. Back to top * 15. IF I MOVE HOME DURING THE FIXED RATE PERIOD, CAN I KEEP MY NEW DEAL? When moving home, you’ll need to apply for a new mortgage, as you’ll be borrowing against a different property. However, you may be able to keep your existing deal; this is often called Porting. Find out more about moving an existing Lloyds deal to another property. Back to top * 16. HOW CAN I PROTECT MY MORTGAGE? You can protect your mortgage with our Life and Body Cover. This type of insurance can give you the peace of mind of knowing that you and your loved ones will be able to keep your home if something happens to you. It could help to pay off your mortgage in the event of your death, or if you become too ill to work. We have a range of options available to Lloyds Bank mortgage customers. Our Mortgage and Protection Advisers are on hand to discuss your needs and can help you to find the right level of cover for your needs. You can find out more about protecting your mortgage, the cover we offer and how to get a personalised quote by visiting our Mortgage Protection page . Back to top * 17. DO I QUALIFY FOR THE CLUB LLOYDS DISCOUNT? As a Club Lloyds current account customer you could take advantage of an exclusive 0.20% discount off your initial fixed rate, when you switch to a new mortgage deal. Keep in mind * You must have a Club Lloyds current account open at the time of mortgage application * Offer can be withdrawn at any time Back to top PRODUCTS AND SERVICES EXPANDABLE SECTION PRODUCTS AND SERVICES * Banking online * Mobile Banking app * Current accounts * Credit cards * Loans * Car finance * Mortgages * Savings * Investing * Wealth Management * Retirement * Home insurance * Life cover * Car insurance HELP AND SECURITY EXPANDABLE SECTION HELP AND SECURITY * Help centre * Contact us * Our virtual assistant * Service status * Find a branch * Sign Video * Signly * How to complain * Fraud * Accessibility & disability LEGAL EXPANDABLE SECTION LEGAL * Legal information * Terms and conditions * Privacy * Cookies * Sitemap * Modern Slavery Statement (PDF, 761 KB) * Financial Services Compensation Scheme ABOUT US EXPANDABLE SECTION ABOUT US * About Lloyds Bank * Equality & diversity * Lloyds Banking Group * Careers -------------------------------------------------------------------------------- * Connect with us * Visit the Lloyds Twitter page. Opens in a new browser tab. * Visit the Lloyds Facebook page. Opens in a new browser tab. * Visit the Lloyds Youtube channel. Opens in a new browser tab. Back to top Back to top Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278. Mobile Banking app: Our app is available to UK personal Internet Banking customers and Internet Banking customers with accounts held in Jersey, the Bailiwick of Guernsey or the Isle of Man. You need to have a valid registered phone number. Minimum operating systems apply, so check the App Store or Google Play for details. Device registration required. The app doesn't work on jailbroken or rooted devices. Terms and conditions apply. Cookies Consent We have to collect some data when you use this website so it works and is secure. Some cookies are needed to make our website work and can't be turned off. But we need your consent to use others that are not essential. You can make your choices below and update them at any time from the 'Cookies' link at the end of any page. You can find out more in our Cookies Policy We'd also like your consent to collect data on how you use our site. This helps us decide which of our products, services and offers may be relevant for you. It also helps us tailor and measure how effective our ads are on other websites, social media, apps and devices, like Smart TVs. Strictly Necessary These cookies are needed to run our website, to keep it secure, and to obey regulations that apply to us. Always On Functional These cookies remember your region or country, language, accessibility options and your settings. This also includes things like your User ID on the login page. Always On Performance These cookies tell us how customers use our website. We study and profile this data to help us improve our products and performance. Off Marketing These cookies help us decide which of our products, services and offers may be relevant for you. It also helps us tailor and measure how effective our ads are on other websites, social media, apps and devices, like Smart TVs. Off Select 'Accept all' to agree or 'Manage consents' to choose which cookies we use. You can change your mind, or find out more, by visiting our Cookies Policy If you've been to our site before, we'll have asked for your consent to put these additional cookies on your device. Here you can choose which types of cookies we use. You can change your mind about this at any time. Accept allManage consentsUpdate choicesKeep choicesSaveCancel Ask us Ask us a question Related questions Chat to us