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Phone

020 3827 8558

Email

info@mortgage-tek.co.uk

Address

Watford WD18 9SB

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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:

  • Helping you compare mortgage rates

  • Get an understanding of all your costs

  • Establishing how much you can borrow

  • Support Porting your mortgage

  • 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.

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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.
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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.

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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. 

FCA-Authorised & CeMap Qualified

Fully certified to deliver expert advice tailored to your needs.

Experienced in Niche Situations

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 that our brokers adhere to a strict pricing structure and cannot charge clients more than a predetermined capped amount.

Expert advice

At Mortgage-Tek we are trained professionals with in-depth knowledge of the financial landscape. We can offer expert advice on various financial matters, helping individuals make informed decisions.
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Time saving

Managing finances can be time-consuming and complex. Our financial advisers handle the research, paperwork, and ongoing management of financial portfolios, saving clients time
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Customised solutions

Our Advisers evaluate your financial circumstances, long-term goals, and specific requirements to provide personalized mortgage solutions tailored to your needs.