How RateSwitch Works


Most lenders allow brokers to secure a new rate for their mortgage clients up to several months ahead of a renewal date. Once secured, that rate is locked in – so if your lender increases their pricing after that point, you’re not affected in almost all cases. And crucially, securing a rate doesn’t mean you’re stuck with it. Your lender allows it to be amended to a lower equivalent any number of times before your switch date.

This is where RateSwitch comes in.

Here’s an example. Your mortgage is with NatWest, your balance is £180,000, and a 2 year fixed rate of 5.00% has been secured. A few weeks later, NatWest reduces that rate to 4.80%. On a mortgage of that size, a reduction of 0.20% saves around £19.80 per month – nearly £475 over the two year fixed period.

Your lender won’t tell you this has happened. They provide rate change information to brokers, typically around 48 hours before new rates take effect – but they have no obligation to pass that on to you directly. And most brokers don’t monitor continuously after the initial arrangement either, which means these drops go unnoticed and the savings go unclaimed.

RateSwitch is powered by Mortgage Metrics – a software platform built specifically to monitor falling mortgage rates. We watch your chosen rate continuously and notify you by email the following morning if it drops. We wait until 5pm each day before sending alerts, because lenders can update their pricing at any point up until then – that way you’re always acting on accurate, settled information.

The service is completely free to use, open to all UK homeowners regardless of who their broker is, and was launched in direct response to the sharp rise in mortgage rates triggered by the escalating conflict in the Middle East. Rates are moving quickly and unpredictably – and the gap between securing at the right moment and missing out has never been greater.

How it works

Select your existing lender

Tell us who your mortgage is with and a few basics: your balance, property value, repayment type and remaining term. That’s all we need to get started – no credit checks, no commitments, and nothing you wouldn’t already know off the top of your head. We currently support 20 mainstream lenders.

See your rates and set an alert

We show you the live rates available through your existing lender, updated as the market moves. In the current climate, rates can change within hours – so having an accurate, up to date picture has never been more important. When you see the rate you want to monitor, simply set an alert and we’ll take it from there.

We’ll notify you when it drops

Once your alert is set, we watch your chosen rate continuously – same product type, same term, same fee structure. If that exact rate drops, we’ll notify you by email the following morning so you can act before the moment passes. Lenders won’t do this. Lots of brokers won’t either. We will.