Existing Mortgage Customers

You may pay an Early Repayment Charge if you choose your new deal to start before your current deal ends.

An Early Repayment Charge, or ERC, is a fee that you could pay if you choose to switch deals or pay off your mortgage before the end of your current term.

Switching mortgages is when you move from one mortgage deal to another, normally because your current interest rate is ending.

With no documents required and no legal or valuation fees, you can switch your TSB mortgage online in as little as 10 minutes. You can switch online, in branch or over the phone or by video appointment with a mortgage adviser.

Your rate switch application can be cancelled up to 14 calendar days before the end of the month prior to the new product taking effect. By cancelling an application, when the product rate ends, the mortgage account will revert to your current product's reversionary rate.

If you have 3 months or less remaining on your existing fixed rate product you can prebook a rate for when your current deal expires without paying any early repayment charges.

If you leave your current mortgage deal earlier to switch to a new rate, you may have to pay an early repayment charge.

If you select a date one month after you current product ends you may move onto your current product’s follow-on variable rate for one month.

If you have a variable or tracker rate without any early repayment charges you can apply to switch to a new rate at any time.

You’ll need to have the following information to hand to log in to your rate switch online:

Forename and Surname – Please enter your forename and surname as registered on your mortgage account. 

Account number – Please enter your full mortgage account number. This is 14 digits beginning with either 20, 30, 40, 50, 77 or 87. You can find this in any letter from us.  

Date of birth – Please enter your date of birth as dd/mm/yyyy including the forward slashes.

Postcode – Please enter the postcode for the mortgaged property. This maybe different to your correspondence postcode. 

With an interest-only mortgage, you only pay off the interest that builds up each month.

View our guide to Bank of England Base Rate changes.