Mortgage Porting
Moving to a new home? You may be able to transfer your existing mortgage to your new property.
What happens to my existing mortgage?
When planning a move to a new home while already having a mortgage, you face an important decision: should you port your existing mortgage to the new property, or take out a new mortgage? Mortgage porting is the process of transferring your existing mortgage agreement to a new property.
Advantages of porting
- Avoiding Early Repayment Charges (ERCs)
- Keeping the same terms with the same lender
- If your current rate is lower than what's available on the market — you keep the lower payments
- You don't need to go through the full application process from scratch
Disadvantages of porting
- It's not always the best decision — particularly if your current rate is high
- You still need to submit an application and go through a credit assessment
- If you're buying a more expensive property, the additional borrowing may be on different terms
When does porting make sense?
Porting makes most sense when your current interest rate is lower than what you could get on a new mortgage. Our advisers will carry out a free analysis and help you make the right decision.
We'll guide you every step of the way
Whether you decide to port your mortgage or take out a new one, we'll guide you through every step of the process. With our help, you can focus on your move rather than the paperwork.
Book a free consultation
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