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Replacing your mortgage

Replacing a mortgage means cancelling an existing mortgage, either at maturity or early. When cancelling at maturity, you can switch provider at no extra cost. An early replacement, however, may lead to penalties, but does provide an opportunity to lock in better conditions with a new provider.

In other words, replacing is an opportunity to restructure your mortgage to secure lower interest rates, more flexible maturities, or conditions in line with your current circumstances. It is important to carefully analyze your situation to make sure that the switch is worth it in the long run.

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How to proceed

1

Check conditions

  • Analyze the conditions of your current mortgage. Check whether you are replacing at maturity or early.

  • In case of early replacement, keep in mind potential penalties or other restrictions or fees.

2

Compare offers

  • Compare mortgage offers of various providers such as banks, insurers, and pension funds.

  • Keep an eye on interest rates, amortization levels, and contractual conditions that might influence your flexibility.

3

Cost-benefit analysis

  • Calculate the savings you might achieve with a new provider or better conditions.

  • Compare these savings with the costs of replacement to ensure that the switch indeed makes financial sense.

4

Examine the contract and negotiate

  • Examine the existing as well as the new mortgage contract closely.

  • Look out for clauses that might restrict your options and negotiate with the new provider to secure the best possible conditions.

5

Clarify formalities

  • Upon maturity: Cancel your existing mortgage on time and start preparing the new contract in a timely manner.

  • Early replacement: Gain clarity over the specific conditions that apply and ensure a smooth transition to the new mortgage.

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smzh for you

We guide you through the entire mortgage replacement process, whether you are replacing at maturity or early:

  • We review the terms of your current mortgage agreement and analyze whether refinancing is beneficial for you.
  • We compare offers from various providers, taking into account interest rates, amortization amounts, and any additional requirements.
  • Together we develop a detailed cost-benefit analysis to ensure you make the best financial decision.
  • We support you with contract review and negotiate with the new provider to secure optimal conditions for you.
  • We handle all formalities, from terminating the existing agreement to concluding the new mortgage contract.

We handle questions such as those shown on the right on a daily basis. You don't need to deal with them by yourself – our 360° Check-Up is free of charge and non-binding.

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You can replace a mortgage at maturity or early. This means that an existing mortgage is either terminated or transferred to another provider.

Potential costs comprise early replacement penalties as well as handling fees that the new provider charges. Replacing at maturity does not lead to any additional costs.

Not necessarily. A switch should be planned carefully and only makes sense if the long-term advantages outweigh the potential costs of a switch.

Yes, at maturity, a mortgage can normally be replaced at no extra cost. This is a good opportunity to compare offers and, if necessary, switch provider.

An in-depth examination of the existing as well as the new mortgage contract protects you against unfavorable clauses or restrictions, ensuring that the new contract is aligned with your needs.