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Mortgage Porting

Transferring mortgage from one property to another

Moving to a new house can be an exciting but stressful time. You will definitely have your hands full. You have to pack, sort final bills, book a moving company, and more. Let us help take some weight off your shoulders and guide you through the mortgage process. If you are already a mortgage holder, it is possible to transfer your existing mortgage to your new property.

What happens to my existing mortgage when I move home?

When you plan to move to a new home, and you already have a mortgage, you have a big decision to make. You need to decide if you want to take your existing mortgage with you or take out a new one?

Porting a mortgage is the process of taking your existing mortgage deal on your current property and transferring it to your new home.

Pros and cons of porting a mortgage

Pros

Porting can help you avoid the exit fees you might have to pay, and you will most likely be keeping the same terms with the same lender. For example, if your initial mortgage is at a lower interest rate, you will carry on paying that low rate at your new property. Another advantage of porting your existing mortgage over to a new property is that you won’t need to go through the entire mortgage application process again.

Cons

Choosing to port your mortgage is not always the best decision. Especially when your current interest rates are high. In general, porting makes sense if your old interest rates are better than the ones on a new mortgage.

Whether you decide to transfer your existing mortgage over to your new property or to remortgage altogether, you still need to go through the application process. We will guide you through all the steps. We will also provide all the information you need.

With our help, you can just relax and focus on moving to your new home.

If you have any questions regarding mortgage porting or our services, please do not hesitate to contact us. Our mortgage advisers will be happy to answer your questions and explain all the details.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it. Conveyancing services are not regulated by the Financial Conduct Authority.