Can I Change My Mortgage Term During a Rate Switch in 2026?
Yes — most lenders allow you to extend or reduce your mortgage term as part of the rate switch process in April 2026. This is one of the most common requests we handle at Rate Switch Rewards, and it can make a significant difference to your monthly payments.
What Else Can You Change During a Rate Switch?
As well as adjusting the term of your mortgage, many lenders also allow you to:
- Set up or change overpayments — increase your regular payments to pay off your mortgage faster
- Apply to borrow more — some lenders offer further advances alongside a product transfer
- Request a property valuation — useful if your home has increased in value, potentially giving you access to better LTV-based rates
If you want to make any changes to your mortgage terms, let us know when you get in touch. We will handle the arrangements with your lender and keep you updated throughout.
How Extending Your Mortgage Term Affects Your Payments
Extending your term reduces your monthly payments by spreading the remaining balance over a longer period. However, you will pay more interest overall. Shortening the term does the opposite — higher monthly payments but less total interest. Our brokers will show you exactly how different terms affect your costs so you can make an informed decision.
How the Rate Switch Process Works
- Share your mortgage details — we use your account number to access your mortgage and review available products
- Receive your quotes — we email you a clear comparison of rates, including options with different terms
- Choose your preferred deal — tell us which rate and term combination works best for you
- We submit and monitor — we send the application and continue watching rates. If a better deal appears before your new rate starts, we switch you automatically
- Cashback paid to you — once complete, we pay 10% of our commission directly into your bank account
Calculate Your Rate Switch Cashback Reward
Why Use Rate Switch Rewards to Change Your Mortgage Term?
- Free, whole-of-market advice from FCA-regulated brokers
- We handle all the paperwork and lender communication
- Cashback paid directly to your bank account on completion
- Rate monitoring ensures you always get the best deal available
Ready to explore your options? Complete our short form and we will send you personalised quotes.
Your home may be repossessed if you do not keep up repayments on your mortgage. The Financial Conduct Authority does not regulate some forms of buy-to-let mortgages.
