Your situation
Switching from a conventional mortgage
Moving to Islamic home finance from an interest-based mortgage. What it costs and what to check first.
What to check, in order
Check your current mortgage
Find out when your current deal ends and whether leaving early triggers an early repayment charge.
Work out the full cost of switching
Add new fees, legal costs and any early repayment charge to the new payments, not just the monthly difference.
Check eligibility
Providers set their own rules on property type, finance amount and your circumstances.
Get authorised advice
An FCA-authorised adviser can tell you whether switching suits you and which products you qualify for.
Plan the timing
Switching near the end of a fixed deal usually avoids early repayment charges.
Questions to ask a provider or adviser
- What will switching cost in total, including my current lender’s charges?
- How does the new monthly payment compare over the first five years?
- Can the arrangement move with me if I sell?
- What happens to my payments after any fixed period?
See what applies to you
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