TL;DR
Mortgage porting - key points
Mortgage porting means trying to move your current mortgage product to a new property. It can be useful if you have a favourable interest rate or want to avoid an early repayment charge (ERC) – a fee some deals charge if you repay the mortgage during the deal period.
Porting is not automatic. The lender will reassess your income, commitments, credit history, age, new property, loan-to-value and whether you still meet its current criteria.
If you are buying a more expensive property and need a larger mortgage, the additional part may be offered on a different product and rate. That is why porting should be compared with taking a new mortgage, with your current lender or another one.
Before you agree a sale, check your mortgage terms for portability and any ERC, and ask your lender about its porting timescales.
What is mortgage porting?
Mortgage porting is the process where a client tries to move their current mortgage product to a new property. In practice, it does not mean an automatic mortgage transfer - the lender must accept the new application, new property and the client's current financial situation.
Porting can help if your current product has a favourable rate or early repayment would trigger an ERC. It will not always be the best option, so the cost of porting, new borrowing, fees and alternative deals should be compared.
Moving home also brings costs beyond the mortgage itself, such as lender and valuation fees, conveyancing and property purchase tax – Stamp Duty Land Tax in England and Northern Ireland, Land and Buildings Transaction Tax in Scotland and Land Transaction Tax in Wales. See our guide to buying costs or the wider mortgages in the UK page.
When can mortgage porting make sense?
You have a favourable interest rate
If your current product has a lower rate than new deals on the market, porting may help preserve some favourable terms.
You want to avoid an early repayment charge (ERC)
Porting may be considered if repaying your current product early would trigger a high early repayment charge.
You are buying a similar or more expensive property
If you need a similar loan amount, the process may be simpler. If you need to borrow more, the extra borrowing may be placed on a different product.
Your current lender still accepts you
The lender will reassess income, commitments, credit history and the new property. If your situation has changed, porting may not be available.
Whether you port or take a new mortgage, the lender will reassess affordability, including your income, living costs and current commitments, and the loan-to-value (the mortgage as a percentage of the property value).
When may mortgage porting not be possible?
Reduced affordability
Lower income, new commitments, children or higher living costs can affect affordability.
Credit history issues
Missed payments, defaults, CCJs or new borrowing may mean your current lender does not accept the new application.
The property does not meet criteria
The lender may decline if the new property has unusual construction, leasehold issues, valuation concerns or other criteria problems.
You need a much larger amount
The additional borrowing may require a separate assessment and may be available on different terms from your current product.
Before applying, it is worth checking your credit history. If missed payments, defaults or CCJs have appeared, the page about poor credit history may also help.
Porting or remortgage - which should you choose?
Porting checks whether your current product can be moved to a new property. Strictly speaking, when you move home you do not remortgage the old property – the alternative to porting is to repay your current mortgage when you sell (usually paying any early repayment charge that still applies) and take out a new mortgage on the new home, either with your current lender or with another lender. Remortgage is the right term when you stay in the same property and switch to a new deal.
The better option depends on your current rate and how long the deal has left, the size of the ERC, the value of the new property, how much you need to borrow, the fees on each route and your current financial situation. If you would like help comparing porting with a new mortgage, you can book a free consultation using the form further down this page.
Frequently asked questions
Can I move my current mortgage to a new home?
Sometimes, yes, but it depends on the lender, product, new property and your current financial situation. The lender will reassess affordability, credit history and requirements for the new purchase.
Can mortgage porting help avoid ERC?
Porting may avoid an early repayment charge (ERC) on the amount of the existing deal you move, if you meet the lender’s conditions. A charge may still arise if you repay part of the balance, cannot complete within its permitted timescale or the new application is declined. Ask for the actual porting and ERC terms before committing to the move; portability alone is not a waiver of every charge.
Is porting automatic?
No. Even if the product is portable, the lender must accept the new application, new property, income, commitments and loan-to-value.
What if I need a larger mortgage when moving home?
The additional borrowing may be offered as a separate part of the mortgage on a different rate and deal. Its fixed-rate period may end at a different time from the ported part, which matters when you next compare options or face early repayment charges. The lender assesses whether you can afford the combined borrowing, so approval of the original loan does not guarantee the top-up.
Can I port a mortgage with poor credit history?
It depends on the type of issues, dates of entries and your current lender's criteria. Issues such as missed payments, defaults or CCJs may make porting harder, even if the original product was accepted before.
What if I want to borrow less on my new home?
If the new mortgage is smaller than your current balance, the part you repay may be treated as early repayment, so an early repayment charge could apply to that amount. How this works depends on your product terms and lender, so check it before you agree your sale and purchase.
What happens if I sell my home before I buy the next one?
If your current mortgage is repaid when you sell, an early repayment charge may be collected then. Some lenders allow a refund of some or all of it if an eligible new purchase completes within their specified period. Confirm the deadline and refund conditions before your sale or purchase becomes legally binding; the available window is lender-specific, not a standard UK rule.
Is it better to port or remortgage?
When you move home, the real alternative to porting is usually to repay your current mortgage when you sell (paying any early repayment charge that still applies) and take out a new mortgage on the new home, with your current lender or another one. Which is better depends on your current rate, any ERC, how much you need to borrow, the new property value and the deals available, so it is worth comparing both before deciding.