MOVING HOME
Whether You're Expanding Or Downsizing, We've Got You Covered
Moving home is known to be one of life’s biggest causes of stress. We’re here to take some of that off your plate by finding you a better mortgage deal for the move, whether that’s staying with your current lender or switching to a new one.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Can you take your mortgage with you when you move?
Most mortgages are portable, which means you can usually take your existing deal with you when you move, rather than starting again from scratch. The exact terms depend on your current lender though, so it’s worth checking with us before you assume it’ll be straightforward. We work with clients across South Yorkshire, Manchester, and Cheshire, and we’ll check the details of your current deal before recommending anything.
Should you switch lenders instead?
Moving is also a good moment to shop around for a better deal elsewhere, in the same way you would with a remortgage. Start by checking whether your current mortgage has any penalties for leaving early. If you’re still within a fixed or discounted rate period, there’s often an early repayment charge to factor in, rather than simply moving onto your lender’s standard variable rate. For a new deal to genuinely leave you better off, it needs to save you enough to cover that charge. If your current deal is already penalty-free, switching becomes a much easier decision.
Trading up, or trading down?
If you’re moving to a larger property, you may need to borrow more, and we’ll make sure any extra borrowing is genuinely affordable once you’ve moved, not just approved on paper. If you’re downsizing, there can be different things to think about too, like how much equity you’re releasing and what that means for your options. Whichever direction you’re moving in, it’s worth getting advice early, before you’re deep into an offer on a new property.
Getting mortgage-ready before you find a property
It’s worth speaking to us before you start viewing properties, not after you’ve had an offer accepted. Getting a Decision in Principle in place early means you know roughly what you can borrow, which puts you in a stronger position when you do make an offer, especially in a chain where everyone’s timing matters. We’ll also flag anything in your current mortgage, income, or credit file that might need sorting before you apply, so there are no surprises further down the line.
If you’re part of a chain, timing becomes even more important. We’ll keep things moving on the mortgage side while you’re dealing with everything else that comes with a move, and we’re happy to liaise directly with your estate agent or solicitor if that makes things easier for you.
Moving home questions we get asked a lot
Can I take my mortgage with me when I move home?
In most cases, yes, this is called porting your mortgage. The terms depend on your current lender, and you’ll usually need to meet their criteria again based on your new circumstances, so it isn’t always automatic.
Do I have to stay with the same lender when I move?
No. Moving home is a good opportunity to compare the whole market rather than just porting your existing deal, especially if a better rate is available elsewhere.
Will I pay a penalty for switching mortgage when I move?
Possibly, if you’re still within a fixed or discounted rate period with your current lender. We’ll check this for you and work out whether switching still makes sense once any penalty is factored in.
How much more can I borrow if I'm moving to a bigger property?
It depends on your income, existing mortgage and how much extra you need, among other factors. We’ll look at your full circumstances and make sure any additional borrowing is genuinely affordable, not just the maximum a lender is willing to offer.
How long does it take to arrange a mortgage for moving home?
It varies, but it’s worth speaking to us as early as possible, ideally before you’ve had an offer accepted on a new property, so your mortgage is ready to move at the same pace as your sale.