This is the term almost universally applied to changing lenders at the end of a term, when the mortgage becomes "open". Most lenders will now pay all of the costs of a "Switch." (as well as giving them a reduced rate to lure them away from a competitor).
Barry Goldsmith
| APA | Barry Goldsmith. (2010). switch. Retrieved September 21, 2026, from http://smartdefine.org/switch/definitions/1164679 |
| Chicago | Barry Goldsmith. 2010. "switch" http://smartdefine.org/switch/definitions/1164679 (accessed September 21, 2026). |
| Harvard | Barry Goldsmith 2010, switch, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/switch/definitions/1164679>. |
| MLA | Barry Goldsmith. "switch" 21 October 2010. Web. 21 September 2026. <http://smartdefine.org/switch/definitions/1164679> |