I'll help you understand your existing mortgage, explore your borrowing options and plan the financial side of your next move.
Talk to JoeBefore you move, understand where you stand.
If you already have a mortgage, your current arrangements can influence what happens next.
You may be able to transfer your existing mortgage product to a new property, often referred to as porting. Alternatively, arranging a new mortgage may be worth exploring.
The right approach depends on your lender's rules, the property, your circumstances and the costs involved.
Moving home is a good time to review the whole mortgage, not just the amount you need to borrow.
What matters when you're moving?
YOUR EXISTING MORTGAGE
Your lender, current interest rate, remaining balance, product end date and any early repayment charges.
YOUR EQUITY
The likely sale price of your current property, the mortgage outstanding and how much equity may be available towards your next purchase.
YOUR NEW BUDGET
Your income, commitments, deposit or equity, moving costs and what feels comfortable each month.
YOUR NEXT PROPERTY
The purchase price, property type and any features that may affect the mortgage application.
Port your mortgage or start again?
Porting may allow you to retain an existing mortgage product when moving, subject to lender approval and the new property meeting its requirements.
Your lender will need to assess the new application, including affordability and the property. For more on comparing lenders and overall costs, see remortgage advice. You can also review your protection as your borrowing changes.
But porting isn't always the best or only option. You may need additional borrowing, your circumstances may have changed, or another lender may offer a more suitable overall arrangement.
I'll help you compare the available routes, including the costs of leaving your existing deal where relevant.
A clearer plan for your next move
We'll start by reviewing your existing mortgage and what you want from your next home.
Then I'll help establish your borrowing options, investigate relevant lenders and explain the next steps before you commit to a new property.
Frequently asked questions
Can I take my current mortgage with me?
Possibly. Many lenders offer porting, but it is subject to their rules, affordability assessment and the suitability of the new property. Porting usually involves a new mortgage application rather than simply transferring the existing loan automatically.
What happens if I need to borrow more?
Your existing lender may offer additional borrowing, or it may be appropriate to consider a different mortgage arrangement. The available options depend on affordability, product availability and the terms of your current mortgage.
Will I have to pay an early repayment charge?
That depends on your mortgage terms and how the move is arranged. Some porting arrangements may avoid or refund certain charges if the lender's conditions are met. It's important to establish the position before making financial commitments.
Should I sell my home before applying for a new mortgage?
Not necessarily. The right timing depends on your circumstances and the property transaction. We can establish your likely borrowing options before you start making offers.
Can I move if my income has changed?
Potentially. A new mortgage application will generally involve an assessment of your current circumstances. If you've become self-employed, changed jobs or experienced an income change, we'll consider how lenders may assess that.
Make your next move with a clearer picture.
Let's review where you are now and what may be possible for your next home.
Talk to Joe