Remortgage Advice:

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Our service: Smaart will review your existing mortgage without obligation. We will only recommend that you remortgage if its financially worthwhile or if your existing lender is unable to help with your requirements. Our remortgage advice service is available to all clients living within the UK and we do not charge a brokerage fee.

Are your getting the best deal? If you are you paying a standard variable rate on your mortgage, you are very likely to be paying too much. Many lenders offer special deals to new customers but when that deal ends they are often less keen to offer a replacement mortgage product. If you are paying a standard variable rate or are about to come to the end of your existing deal you should contact us for remortgage advice as soon as possible.

Do you need to release money tied up in your home? If you need to release money (known as equity) from your home you should consider the entire mortgage market, not just your existing lender. Your existing lender may agree to extend your mortgage but in many cases it can be cheaper to remortgage for the entire amount you need. If you are looking to release money tied up in your home you should contact us directly for no obligation remortgage advice.

For no obligation advice call us 0800 542 8898

Frequently Asked Questions:

What is a remortgage?

A remortgage is the process of paying off one mortgage with the proceeds from a new mortgage using the same property as security.

How often should you review your mortgage?

You might have agreed to remain with your current lender for a minimum period of time; this is often the situation with Fixed or Capped rate mortgage schemes. In general we recommend that you review your mortgage finance every twelve months. If you are currently paying a standard variable rate it would be wise to review your mortgage right now!

Why remortgage:

Remortgage to save money: The number of mortgages available in the UK is huge so it pays to shop around. By moving your mortgage to a more competitive lender you could reduce your monthly repayments.

Remortgage to raise extra money:

If you are looking to release some of the money tied up in your home a remortgage can be worth considering. You may wish to remortgage to raise funds to improve or extend your home. Remortgage to pay off your loan earlier: By restructuring your mortgage over a shorter period of time, you are likely to pay less interest to your lender.

Is remortgaging costly?

As with most mortgage application there are fees involved. It is usual to pay a Solicitor and you might be expected to pay for the valuation of your property. Lenders may also charge you various fees specific to the mortgage scheme. The new lender may agree to pay some or all of the costs involved.

Some of the costs might include:

• Valuation charge
• Legal fees
• Arrangement fee (to lender)
• Early repayment charge or other penalty from your original lender.

How easy is it to remortgage?

Its very easy, firstly you should speak to your current lender to establish how much you owe on your mortgage and if any penalty would be charged if you change lender. The next step is to speak with your mortgage broker who will compare the schemes being offered by your existing lender to those available in the whole of the mortgage market.

Budget Planning:

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.