Switching made simple

Switching your existing Sainsbury’s Bank Residential Mortgage to a new product with us could save you time, money and hassle.

Why you should switch

You already know us. And we already know you. But just to remind you – here are some of the reasons our flexible mortgages may work for you:

  • A choice of mortgage products
  • Underpay or overpay on your mortgage
    Make overpayments on your mortgage which may allow you to pay it off quicker, reduce your monthly payments in part or full. Find out more about our flexible mortgage payment options.
  • Switch with us within 90 days of your rate expiring and you won’t pay any early repayment charges
  • No legal or valuation fees
    As long as you’re making a simple switch with no other changes

Am I able to switch?

As you’ve already got a mortgage with us, switching should be super simple. There are some things we’ll need to double check though – just to make sure you’re eligible to switch.

You can apply to switch to another mortgage product with us as long as:

  • You’re an existing Sainsbury’s Bank Residential Mortgage customer
  • This is the main Mortgage on your property (sometimes called a first charge or primary Mortgage)
  • You are up-to-date with your Mortgage payments
  • You have the consent of all applicants to complete the switch (if you’ve got a joint Mortgage)
  • You took out your Mortgage after 2016
  • The Mortgage you are looking to switch is not let out under a ‘Consent to Let’
  • The Mortgage you are looking to switch is not a Buy to Let or Consumer Buy to Let Mortgage

You may want to think about switching to one of our other products if you’re:

  • Coming to the end of your current residential mortgage deal with us
  • On our residential standard variable rate

No, we’ll already have most of your details following your original mortgage application so switching to a new deal should be quick and easy.

If you are simply switching your mortgage deal with no other changes, we will not ask you to provide any evidence of your income or run any credit searches against you. Although we will need you to confirm the new mortgage payment is affordable based on your current circumstances.

Ready to switch? Before you get started, check out our rates and fees calculator to compare our available mortgage products and find the one that suits your needs.

Once you’ve done that, double check you still meet our eligibility criteria and dig out some of your details. This will help us make your application as quick and simple as possible – saving you time and hassle.

Getting everything ready can really help speed things up. So make sure you’ve got the following handy before you apply:

  • Your existing mortgage account number
  • The postcode of your property
  • The date your current monthly payment goes out

It’s always a good idea to speak to one of our team to discuss your mortgage requirements before committing yourself to a new product. One of our qualified mortgage advisers can discuss all the options that are available to you and recommend the most suitable product based on your needs and circumstances. If you’d like to see the options that may be available to you, please check out our rates and fees calculator.

If you feel that you do not require advice to switch your mortgage rate, you can switch using our easy to use online switching portal.

Before you get started, check out our rates and fees calculator to compare our available mortgage products and find the one that suits your needs.

No. Our existing mortgage customer products are only available with us directly.

We are no longer offering new Buy to Let mortgages products, so you are not eligible to switch product with us if you are letting your property out under a Consent to Let or the mortgage you are looking to switch is a Buy to Let or Consumer Buy to Let Mortgage. When your current fixed rate ends, you will revert to our Standard Variable Rate (SVR) only. You may be able to switch to a cheaper mortgage with a new lender and we would recommend that you seek independent financial advice to see if you could get an alternate rate elsewhere.

There are no legal or valuation fees required but depending on the mortgage deal, there may be a product fee to pay. Our rates and fees page detail all of the fees that apply on our current deals. If a product fee applies, you may have the option of paying this up front or adding it to your mortgage balance. If you choose to add this fee, you’ll pay interest on it for the duration of the mortgage.

Details of any early repayment charges that may apply to you, and when they may be charged will be shown in your mortgage offer. If you are looking to retain your mortgage with Sainsbury’s Bank, we’ll allow you to switch to a new deal within 90 days of your existing deal ending, without any early repayment charges being applied. Should you decide to move your mortgage to another lender, early repayment charges will apply up to the expiry of your existing mortgage deal.

For more details on our fees and charges, please take a look at our Tariff of Charges for further information.

If you are simply looking to switch your mortgage deal with no other changes, then a property valuation should not be required. If you are looking to make any further changes to your mortgage, then a new valuation may be required.

Your mortgage deal could change the amount of your monthly repayment, so any existing overpayments you're making will stop once your current deal comes to an end. If you decide to continue making overpayments after you've switched to a new deal you can call our team on 0345 111 8020** and they’ll be happy to discuss your options further.

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. Once you’ve accepted the offer 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.


How to switch

Switching your existing residential mortgage is simple. As we have all your details to hand, it won't take long at all.

If you feel you need further help and support with your switch and getting advice would benefit you, please give a call on the number below and our qualified mortgage advisers would be happy to take you through your options.

Switch online

Switching your residential mortgage with Sainsbury’s Bank online is right for you if you already know the type of mortgage you want and are happy to choose your own deal and apply for your mortgage without advice.

If you apply online, Sainsbury’s Bank is not required to assess the suitability of the mortgage you apply for and you will not receive the same protection offered by the Financial Conduct Authority’s rules as customers who apply by telephone. This is known as an execution only sale.

Please note that if you are looking to make any changes other than a rate switch, you will need to contact our team on the telephone number listed below.

Continue with an application >

Switch by phone

Switching your residential mortgage with Sainsbury’s Bank over the phone is right for you if you would like to speak to our qualified mortgage advisers who can guide you through the whole process to ensure you understand what’s expected of you and what everything means.

When you apply over the phone you will receive free advice about your rate switch. We will check you can afford to repay the mortgage and help you compare our mortgages and rates to recommend a deal that best suits your needs and circumstances.

Please note that if you are looking to make any changes other than a rate switch, you will need to contact our team on the telephone number listed below.

Call us on 0345 111 8020**

Our lines are open: Monday to Friday, 8am–8pm, Saturday, 9am–1pm and closed Sunday

The mortgage is secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage. Lending subject to status.

For further questions

  • Call 0345 111 8020**
  • Helpful phone numbers
  • Our lines are open: Monday to Friday, 8am–8pm, Saturday, 9am–1pm and closed Sunday
    **Telephone calls will be recorded for security purposes under our quality control procedures. Calls are charged at local rates from landlines and mobiles.