4.97 out of 5 based on 2,400+ reviews
4.97 out of 5 based on 2,400+ reviews
When you move home you can port your current mortgage, switch to a new deal or borrow more, with the right choice depending on your circumstances.
Rated 4.97 out of 5 from 2,400+ reviews
When moving house, you can port your existing mortgage to retain your current rate and avoid early repayment charges, take out a new whole-of-market mortgage for greater flexibility, or borrow additional funds through a top-up arrangement — with the most suitable choice depending on your rate, remaining term, and borrowing needs.
Moving home is one of the most significant financial decisions most people will ever make, and getting your mortgage strategy planned from the outset can save you a considerable sum.
Whether you are upsizing to accommodate a growing family, downsizing to release equity, or simply relocating, understanding how to handle your existing mortgage is just as important as finding the right property.
When you decide to move home, there are three primary routes available to you: porting your existing mortgage, taking out a new mortgage entirely, or borrowing additional funds on top of your current arrangement. Each pathway suits different circumstances, and in some cases a combination of approaches may deliver the desired outcome.
Porting means transferring your current mortgage deal — including its interest rate and terms — to your new property. This is particularly valuable if you secured a competitive rate during a period of lower interest rates that is no longer available in today’s market.
Not every mortgage is portable, however, and even where porting is permitted in principle, you will still be subject to a fresh affordability assessment by your existing lender. You remain tied to that lender for the duration of the term, and standard transaction costs — valuation fees, legal fees, and Stamp Duty — still apply.
If your mortgage is not portable, or if current market rates represent a genuine improvement on your existing deal, moving to a new mortgage product gives you access to the full breadth of the market. This approach offers maximum flexibility: you repay your existing mortgage from the proceeds of your property sale, and your broker can source the most competitive terms available across all lenders.
As an independent, whole-of-market broker, Private Finance works with over 300 lenders, including high-street banks, private banks, and specialist providers whose products are not available on comparison websites or through direct channels. This breadth of access means we can identify rates and structures that simply would not be visible to borrowers approaching lenders independently.
Upsizing almost always requires additional borrowing. There are two ways to approach this: porting your existing mortgage and adding a separate top-up product for the additional amount, or repaying your current mortgage in full and taking out a new, larger loan.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Keep your current interest rate and avoid costly early repayment charges by transferring your mortgage to your new property seamlessly.
We work with over 300 lenders — including private banks and specialist providers — to find rates unavailable on the high street or comparison sites.
From early repayment charges to Stamp Duty, we model the full cost picture so you can make a fully informed decision before committing.
With over two decades of experience and a 4.97/5 client rating, our consultants handle every aspect of your mortgage from enquiry to completion.
Downsizing presents its own set of considerations. You may wish to port your mortgage at a reduced loan size, in which case the lender will reassess your eligibility in line with their current criteria.
Early repayment charges represent one of the most significant cost factors when moving during a fixed-rate period. Typically ranging from 1% to 5% of the outstanding mortgage balance, these fees exist to compensate lenders for lost interest income.
The mortgage market contains thousands of products across hundreds of lenders, each with distinct eligibility criteria, rate structures, and underwriting approaches.
Whether you are porting a deal, remortgaging, or structuring a complex top-up arrangement, getting guidance early can save you thousands and remove the administrative burden that moving home inevitably brings.
Your home may be repossessed if you do not keep up repayments on your mortgage.
A Decision in Principle (DIP) gives you an indication of how much you may be able to borrow before you start viewing properties. It can strengthen your position when making an offer, show estate agents and sellers that you’re a serious buyer, and help you search with greater confidence and clarity around your budget.
Most mortgages include a portability clause, but this is subject to your lender’s approval and a fresh affordability assessment. Not all lenders permit porting, so it is important to check your mortgage terms early in the moving process.
Yes. Private Finance specialises in cases that fall outside mainstream lending criteria, including self-employed borrowers, high-net-worth individuals, those with complex income structures, and clients requiring large loans. Our whole-of-market access includes specialist and private bank lenders equipped for these circumstances.
Whatever your situation, our premier mortgage team can advise on suitable solutions. We specialise in complex and bespoke mortgage solutions to help you find competitive terms.
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