Home Mover Mortgage
If you’re thinking about moving, a home mover mortgage can help you finance your next home.
At MortgageTek we can simplify the process of you moving by:
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Helping you compare mortgage rates
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Get an understanding of all your costs
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Establishing how much you can borrow
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Support Porting your mortgage
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Assessing impact on home equity
We work with more than 120 mortgage lenders, including
What is a Home Mover Mortgage
A home mover mortgage helps homeowners transition from their current property to a new one.
This process usually involves selling your home and using the proceeds to buy a new one. In some cases, the sale and purchase can be coordinated for a seamless move.
Key Considerations for Home Movers
Mortgage terms can vary depending on your situation and lender. To ensure you get the best deal, it’s important to seek mortgage advice. Mortgagetek team will help you understand :
- Whether to port your existing mortgage or pay it off and take out a new one. Porting your mortgage allows you to keep your current interest rate, but check if your mortgage is portable.
- Understand any redemption charges, exit fees, arrangement fees, valuation fees, broker fees, and conveyancing costs if applying for a new mortgage.
What are my mortgage options if I am looking to move house?
Tycpically there are two options Port or Transfer.
Porting your mortgage can be beneficial as it allows you to keep your current low interest rate and avoid fees from a new loan. We can run a check to determine if ypour current mortgage is portable as there are some instances where this is not possible.
In the instance this isn’t portable, you’ll need to apply for a new mortgage when selling your home, therefore reapplying, credit checks, and potentially paying for a property valuation, legal fees, and stamp duty.
Another reason that could prevent you from porting the mortgage is because of changes in your financial situation. You will need to explore a home mover mortgage. It is important to note, early redemption charges may apply if you pay off your current mortgage early.
What are the typical costs as a home mover mortgage?
When selecting the best mortgage for your move, it’s crucial to account for these additional costs. Be sure to also include other expenses, like conveyancing fees, to fully understand the total cost of your home purchase.
Should you decide to not port your mortgage then you may incur additional expenses:
Early redemption charges
Exit fees
Arrangement fees
Booking fees
Valuation fees
Broker fees
Why Choose Mortgage-Tek Mortgage Services
Get your right and on-point advice by our OMA-approved brokers. Working with Mortgage-Tek is simple and straightforward, here are the benefits we offer to our worthy clients.Â
FCA & CeMAP Certified
FCA-authorised and CeMAP-qualified, we deliver expert, transparent mortgage advice designed to give you confidence at every step.
Niche Market Experts
Whether you’re self-employed, dealing with credit challenges, or buying a unique property, our brokers have the expertise to guide you.
Dedicated to Fairness
We enforce a fair fee policy, ensuring brokers follow clear pricing and never charge clients more than the agreed capped amount.
Guided by Expertise
At Mortgage-Tek, we’re trained professionals with extensive financial expertise, helping clients make informed decisions.
Save Valuable Time
Managing finances can be complex. Our expert advisers handle the research and paperwork, helping clients save time and effort.
Custom Mortgage Plans
Our advisers carefully evaluate your finances and goals to provide personalised mortgage solutions at their best.