RateSwitch is a fee-free service because we receive commission from mortgage lenders when we switch your mortgage onto a new rate (this is called a procuration fee).
Every broker in the country is remunerated in the same way, so there’s nothing unique about this. Procuration fees are usually between 0.20% and 0.40% (of the mortgage balance switched), and it’s the same amount for all brokers.
What sets us apart is that we don’t charge a fee in addition to receiving this (lots of brokers do), and our bespoke monitoring service is a distinctive feature.
