RateSwitch was originally launched in February 2017. Back then, popular comparison websites such as Go Compare and MoneySuperMarket only displayed ‘new’ mortgage rates (for consumers looking to remortgage between lenders or purchasing a new home).

So we built a comparison website which only displayed mortgage rates available to ‘existing’ customers, primarily because these rates were not easily accessible (at that time).

We also wanted to highlight that these rates could be accessed by homeowners without the hassle of being put through an affordability check and/or a credit scoring process, which was an ideal solution for anyone who had experienced a change in their circumstances since originally taking out their mortgage (such as a change in income, employment status or creditworthiness).

It was an industry first, but over the next few years, the big players started to include this data within their comparison websites. There was no way to compete (the likes of Go Compare and MoneySuperMarket spend tens of millions of pounds a year on marketing), so we decided to move onto something new.

In February 2020, we launched a cashback engine called Accelerate My Mortgage. Think along the lines of Quidco or TopCashback, but with every penny earned from everyday retail purchases being automatically paid off your mortgage as overpayments.

It was another industry first, but we were completely unaware of the impending global pandemic which was on its way (as we all were!)

COVID-19 helped us grow Accelerate My Mortgage for a short while (the high streets were closed, so the whole country had no choice but to shop online for a few months), but as life slowly got back to normal, the harsh reality was that we had missed our opportunity due to unfortunate timing.

Lots of popular retailers pulled away from working with cashback websites altogether because there was no need to pay cashback to incentivise people to shop online – this method of shopping had became the norm (and it typically still is for many people).

We took a break from innovation for a while (just to catch a breath more than anything!), but then came Liz Truss’ infamous mini-budget in September 2022.

This was a harrowing event for homeowners, with mortgage rates soaring overnight. So we decided to ‘go again’ and launch a unique rate alert service called Mortgage Metrics.

It’s a software platform which monitors falling mortgage rates between application and completion. Brokers all over the country use it to ensure their clients don’t miss out if lenders reduce their rates in the months leading up to a renewal date (you can read about how this works in more detail here).

And this brings us to the present day. After a few years of ups and downs, RateSwitch now has a new purpose.

We’ve successfully integrated this technology with the RateSwitch website, for the benefit of anyone who has a mortgage rate coming to end in the next 6 to 12 months.

It’s been a rollercoaster of a journey so far, but we remain committed to the cause of helping homeowners save money on their mortgage in any way possible.