Moving home and porting a mortgage

If you're thinking about moving home, whether that's because you are upsizing or downsizing, this is a great time to look at refreshing your mortgage and potentially getting yourself a better deal. Thousands of happy customers have come to Nottingham Mortgage Services for mortgage advice because we can save them time, money and stress. That's why we've got a 99% overall satisfaction score†.

But before you rush into the first mortgage you're offered, why not get the help of a mortgage expert who will search a wide variety of lenders to source you a mortgage that fits your needs?

Nottingham Mortgage Services have dedicated mortgage advisers who will help you through the whole mortgage process from sourcing the mortgage through to making sure all the paperwork is carried out.

Let our mortgage experts advise you on what to do next. Submit your details via the form and one of our mortgage advisers will get in touch or if you’ve already spoken to an adviser you can find their contact details here.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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What is mortgage porting?

Mortgage porting is when you move house but keep your existing mortgage rate and terms with your existing provider. Beneficially, you may keep a rate that is lower than the products on the market at the time but this may not be the case and you might be missing out on better rates from other lenders.

The lender will arrange a valuation and usual financial and affordability checks. As you are porting you may not have to pay early repayment fees but there will be other fees to pay for your valuation and legal work and other aspects of the process. 

How does porting a mortgage work?

This process is fairly simple if the property you are moving to is worth less than your current property but if you are moving to a more expensive property it can be trickier. If the next property is more expensive you could end up with two mortgage products which can be confusing and tricky the next time you want to move or remortgage. Speak to your lender and ask them whether porting is an option and they will process the usual valuation and affordability checks for yourself and the property.

How long does porting a mortgage take?

Porting a mortgage can take less time than a remortgage or a new mortgage application as the lender already has a lot of your information and as mentioned it can be especially simple if the new property is worth less than your current one. If this is the case then your old property’s balance will be paid off and your new one will have the same rate and terms that you are used to. 

If your new property is more expensive than your process may be just as long as a standard remortgage or mortgage application. 

What our customers had to say “

“I found looking online for a remortgage very frustrating and time consuming so it was a no-brainer for us to go and seek mortgage advice in person. Nottingham Mortgage Services were brilliant in explaining everything to us and answering our questions.” January 2020.

Natalie - Derbyshire

“We would definitely recommend starting your mortgage search with Nottingham Mortgage Services because they are friendly, knowledgeable and patient which is just what you need, as being a first-time buyer can be stressful and overwhelming.” June 2019.

Anna and Dan - Matlock

Fee free mortgage advice

Nottingham Mortgage Services could find you the right deal by searching thousands of mortgages from over 60 different lenders. Qualifying members don’t pay a fee for this service which is typically £299.

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Essential guides

Our handy guides provide information for all times of situations - from first time buyers to getting a mortgage when you're over 50 to finding out how much deposit you actually need, plus much more.

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Why use a mortgage broker?

There are many benefits of using a mortgage broker. Find out how they can help make the whole mortgage process simpler for you.

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