Question 1

Can I take my current mortgage with me?

Accepted Answer

Many mortgages are 'portable', meaning the rate and terms can be transferred to your new property, subject to a fresh affordability and property assessment by your lender. Whether porting is actually the right answer depends on your equity, the new loan size, the rates available today and your early repayment charge. We cover this in detail in the porting guide above and we always run the numbers both ways before recommending a route.

Question 2

Can I increase my borrowing if I port?

Accepted Answer

Yes, in most cases. The portable element of your mortgage moves across at your existing rate, and any additional borrowing is placed on a new sub-account at one of the lender's current products. The lender will reassess affordability against your current income and outgoings to make sure the total commitment is still sustainable. The result is one mortgage made up of two parts, each with its own rate and end date, which we will compare against simply taking a fresh mortgage with another lender.

Question 3

What happens to my early repayment charge if I port?

Accepted Answer

If your purchase and sale complete on the same day and you successfully port the same loan amount or more to the new property, the early repayment charge is normally not triggered. If you port a smaller amount, an early repayment charge is usually applied to the portion you are not carrying across. Some lenders also offer a short window after sale to complete the new purchase and still port without a charge. Lender rules vary, so we always confirm the small print with your specific lender before recommending porting.

Question 4

Will I need to prove my income again?

Accepted Answer

Yes. Even if you are staying with your existing lender, moving home triggers a new affordability assessment based on your current income, expenditure, credit profile and the new property. Lender criteria change over time, so the amount you could borrow today may differ from when you originally took your mortgage out.

Question 5

What if I am buying before I have sold?

Accepted Answer

Options may include a let-to-buy arrangement, bridging finance or simply timing the sale and purchase to complete on the same day. Each route has different costs and risks. We will talk through what fits your circumstances and refer you to a specialist where appropriate.

Question 6

Do I have to use the estate agent's recommended broker?

Accepted Answer

No. You are free to choose any qualified mortgage adviser. Estate agents may suggest their in-house broker, but you are under no obligation to use them and doing so should never be a condition of your offer being accepted.

Question 7

How early should I speak to a mortgage adviser?

Accepted Answer

As early as you can, ideally before you start viewing. Knowing what you can comfortably borrow, what your monthly payments could look like and having a Decision in Principle ready means you can move quickly when the right home comes up.

Question 8

Will moving home affect my credit score?

Accepted Answer

Hard credit checks from a full mortgage application can have a small short-term impact on your credit file. This usually recovers within a few months provided you continue to manage your credit responsibly. We aim to place your application with a lender likely to approve it first time, reducing unnecessary searches.

Moving home? Get clear mortgage advice before your next move.

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