Immediate savings
Cut your monthly instalment from the very first month. On average, our clients save between 80 and 200 euros a month after the transfer.
Mortgage transfer
Improve your current mortgage
Switch banks and get better terms. Lower your monthly instalment, reduce your interest rate and save thousands of euros over the life of your loan. At no cost to you.
Concept
What is a mortgage transfer
A mortgage transfer (remortgaging) is a financial operation that lets you move your mortgage from one bank to another with more favourable terms. Unlike cancelling your loan and taking out a new mortgage, a transfer is simpler, faster and involves lower legal and tax costs.
With a mortgage transfer you can secure a lower interest rate, switch from a variable rate to a fixed rate (or vice versa), extend or shorten the repayment term, and remove unnecessary tie-ins such as insurance policies or pension plans that make your mortgage more expensive.
At SmartCredit+ we analyse your current mortgage and compare it against the offers from our partner banks to determine whether a transfer benefits you. If the potential savings justify the operation, we handle the entire process through to signing at the notary.
Requirements
When it's worth transferring
A mortgage transfer is especially worthwhile when there is a significant gap between your current interest rate and the one you can get at another bank. As a rule of thumb, a difference of more than 0.5 percentage points can already deliver considerable savings.
The remaining term of your mortgage is also key: if you still have more than 10 years left to pay, the accumulated savings will be greater and will offset the cost of the operation. The more outstanding capital you have, the more you will notice the difference in your monthly instalment.
It's also a good time if your mortgage has a high spread over the Euribor, if you're paying excessive fees or tie-ins, or if market interest rates have dropped significantly since you signed your original mortgage.
Process
Step by step
01
Analysis of your current mortgage
We review the terms of your current loan: interest rate, spread, remaining term, fees and tie-ins. We work out how much you could save with a mortgage transfer.
02
Search for the best offers
We compare offers from our partner banks to find the most advantageous terms for your profile. We negotiate on your behalf to secure the best spread and the fewest tie-ins.
03
Presenting the offer
We present the best options with a clear comparison: current instalment vs. new instalment, monthly savings, total savings over the life of the loan and the costs of the operation.
04
Full management through to signing
We take care of all the paperwork, coordination with both banks, the property valuation and support right up to signing at the notary. All you do is sign.
Benefits
Advantages of transferring with SmartCredit+
At no cost to you
Our service is 100% free for the client. The fees are paid by the financial institution, not by you.
End-to-end management
We take care of all the paperwork, negotiation with banks, the property valuation and coordination through to signing at the notary.
Access to better offers
Thanks to our agreements with Spain's leading banks, we secure terms you won't find on your own.
No obligation
We analyse your mortgage with no commitment. You only go ahead if the offer convinces you and the savings are real.
Expert support
A specialist mortgage adviser guides you through every step and answers all your questions throughout the process.
Common questions
Frequently asked questions about mortgage transfers
What exactly is a mortgage transfer?
A mortgage transfer (remortgaging) is the legal process by which you move your mortgage loan from one bank to another that offers you better terms. It can involve a change of interest rate (from variable to fixed or vice versa), a reduction in the spread, or an improvement in fees and tie-ins. The new bank takes over the outstanding debt and you start paying under the newly agreed terms.
How much does a mortgage transfer cost?
A mortgage transfer has low costs compared with a new mortgage. Since Law 5/2019 came into force, transfer fees are capped: 0.15% of the outstanding capital if your mortgage has a variable rate (during the first 5 years, then 0%), and 2% for the first 10 years or 1.5% afterwards for a fixed rate. In addition, you don't need to pay for a full new notarial deed, as it is a modification of the existing loan. In most cases, the monthly savings comfortably offset the cost of the operation within a few months.
How long does the mortgage transfer process take?
The full transfer process usually takes between 4 and 8 weeks. Once the new bank approves the operation and issues a binding offer, your current bank has 15 calendar days to match or improve the offer (right of first refusal). If it doesn't, the deed is signed before a notary. We handle all the document management and coordination between institutions to keep the process as smooth as possible.
Can my current bank refuse the transfer?
No, your current bank cannot block the transfer. It is your right as a consumer to switch financial institution. What it can do is exercise its right of first refusal: it has 15 days to present you with a counteroffer matching or improving the new bank's terms. If it does, you are free to decide whether to stay or proceed with the transfer to the new bank.
Find out how much you can save
We analyse your mortgage with no commitment and tell you whether a transfer is worthwhile. 100% free.