If you are looking to move home, the first thing you should consider is how much your existing property is worth. To get a realistic valuation of your home we recommend that you invite three Estate Agents to assess the value and ask them to confirm their valuation in writing to you. Once you have all three valuations you should take an average of the three and in most cases this will be a fair indication of what you should expect to achieve if you decide to sell.

A growing number of people now choose to keep their existing property as a long term investment. If you believe that your property would rent easily this might be something you wish to explore. Once again we recommend that you obtain three valuations for rental purposes and take an average of the three. This type of transaction is known as “let to buy” and more information can be found by speaking to one of our advisers.

Your Existing Mortgage?

If you already have a mortgage this is the time to dig out your original mortgage offer or contact your lender to obtain the following information:

How much is outstanding

What interest rate is being charged

When does the existing deal end

Are there any early repayment charges

Is the current mortgage portable, i.e. can it be transferred to another property

Initial Advice:

Armed with the above information this is the ideal time to contact Smaart Associates. We will discuss how much you might be able to borrow toward your onward purchase and answer any questions you have about the moving process.

Get a Mortgage Agreement in Principle:

Having a mortgage agreed in principle means that you have your finances ready before you find a property you wish to buy. If your financial situation is particularly good, this may not be necessary and your Advisor will discuss this with you.

Budgeting:

Before applying for a mortgage or remortgage it's important that you understand what your existing commitments are and how much you can afford in repayments for your mortgage.

Your Smaart Associates Adviser will help you establish a budget for your new mortgage but to get started please try using our online budget planner.