Sm Mortgage Services


Remortgaging means switching your mortgage to another deal, possibly, with another lender without moving property.

Some people switch mortgages because it will work out cheaper for them. For example, the introductory discounted interest rate may have finished with your current lender, and you might get a cheaper deal.

Other people remortgage to consolidate their debts.

It is worth noting that a remortgage isn’t always the most suitable option. Sometimes any saving made by securing a cheaper interest rate can be outweighed by the fees incurred in setting up the new mortgage and converting unsecured debt to secured debt may not be in your long term interest.

If you plan to switch mortgage, remember to look at the overall repayment period too. You may be able to pay less monthly, but check the final repayment date of the mortgage. It may be longer than your current deal.

You may be able to find a new mortgage deal with your current lender – and it may even work out cheaper to do so.

In fact, many lenders allow you to switch your mortgage deal quite frequently.

Switching your mortgage to a new deal could be one of the best money-saving moves you ever make. At SM Mortgages Services our advisors will be happy to help you every step of the way. Get in touch today to discuss your options.


Securing short term debts against your home could increase the term over which they are paid and therefore increase the overall amount payable. You may have to pay an early repayment charge to your existing lender if you remortgage.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.