Can I switch banks but leave mortgage where it is?

cant-think-of-a-name

Hi
I want to switch our bank account, we have a barclays additions active account. Barclays are changing it as they no longer have that account, and the monthly fee will go up.
We still want a packaged account as we make use of the breakdown cover, mobile phone insurance and travel insurance.
So we thought the Nationwide flexPlus account would be best.

My query is, can we leave our mortgage with barclays. It is not tied into the bank account as far as I know. We are on a very low mortgage rate, so don't want to move it. We just want to switch the current account.
x

knack92

If there's no stipulation that you must hold a current account with them then there should be no problem switching. Check your terms and conditions or contact them. If you need to you could leave the account open and still open the FlexPlus.

YorkshireBoy

Don't forget to get a friend or family member who's currently a Nationwide customer to refer you for a possible £100 switching incentive.

Marchitiello

First you can remove te packs from your account and not pay any fee. Separate from this see below.
I have had and have a joint mortgage with Barclays and both KFI clearly stated that we have had to set up and retain a Joint Mortgage current account for the duration of the mortgage. So I guess you have a separate sole account and a mortgage account, can switch your sole account but retain the mortgage current account. If the mortgage current account is the one and only account you have with them, then you may not be able to close it/switch it as such, but you can definitely open a new donor account, switch to Nationwide and use that as main account, and the now fee free barclays account you can retain with sporadic transactions to show it is live. You should be able to move the direct debit manually to your new nationwide account as well.

cant-think-of-a-name

Thank you for your replies.
Is there a lower age limit with the £100 switching incentive? The only person I know with Nationwide is my daughter and she has just turned 16.

EarthBoy

cant-think-of-a-name wrote: »

Thank you for your replies.
Is there a lower age limit with the £100 switching incentive? The only person I know with Nationwide is my daughter and she has just turned 16.

Your daughter would need to hold a FlexAccount, FlexDirect or FlexPlus account, and the minimum age for these is 16. If she's only got a FlexOne, FlexBasic or FlexStudent account, or a savings account, they don't count.

http://www.nationwide.co.uk/products/current-accounts/service/raf-conditions