Mortgages for people moving home
Whether you’ve moved homes before or this is your first time you’re selling your home a good mortgage broker and mortgage adviser will be able to help you. Whether you want to port your mortgage over to your new property or get a completely a new mortgage, there are things to consider.
If you’re thinking about porting your mortgage sometimes your lender won’t allow this.
For instance, the lender might find the property you want to buy unacceptable.
When you port your mortgage you effectively have to reapply for the borrowing, you may not qualify as your circumstances might not qualify their criteria.
- Your profession may have changed or your outgoings have increased, either way, despite your unchanged situation but your lender may have changed their criteria.
- If you are considering a new mortgage scheme then at first, find out if you face an early repayment charge if you choose to leave your current mortgage product.
You could switch to a different mortgage scheme with a different rate and term.
You don’t need to stick with the same product, you could choose from any available products, it could be fixed, variable, tracker, discount etc.
A mortgage broker and adviser will be able to advise you on the mortgages available.
