Home Mover Mortgages Explained

Moving home can feel more complex than buying for the first time because you may be selling one property, buying another, managing a chain, reviewing your existing mortgage and working out whether to port your current deal or arrange a new one.

This page explains the key things to consider when moving home, including affordability, deposits, mortgage options, surveys, solicitors and what happens once your offer is accepted.

Thinking About Moving Home?

Book a mortgage review call and we can check what may be possible, whether your current mortgage can move with you, and what your likely options could look like before you start making offers.

What Happens During Your Mortgage Review Call?

A simple overview of what to expect when booking a call. For home movers, we will look at your current mortgage, sale position, deposit or equity, income, affordability and whether porting your existing mortgage or arranging a new deal may be more suitable.

 

  • A relaxed overview of your current position
  • How much you may be able to borrow
  • Whether your current mortgage can be ported
  • What deposit or equity may be available
  • What happens once you find a property

what this guide covers

Selling and Buying Again

Understand how selling your current home and buying your next property can work together.

View Guide

Porting Your Mortgage

Understand whether your current mortgage deal could move with you to your next property.

View Guide
Home Buy Costs IconDocument checklist icon showing home buy costs, deposit, solicitor fees, homebuyer survey, stamp duty and total with a question mark.HOME BUYCOSTSDepositSolicitor FeesHomebuyer SurveyStamp DutyTOTAL?

Costs and Next Steps

Understand the main costs, documents, surveys, solicitors and next steps when moving home.

View Guide

How The Home Mover Process Works

Moving home can feel complicated because there are usually several things happening at the same time. You may be selling your current property, arranging a mortgage for the next one, dealing with estate agents, instructing solicitors and working within a chain.

The process becomes much easier once it is broken down into clear stages.

Below is a straightforward overview of how the home mover mortgage process typically works.

1. Mortgage Review Call

The first step is a relaxed conversation about your current mortgage, income, property value, expected sale price, deposit or equity and the type of property you want to buy.

This helps us understand what may be affordable and whether your current mortgage could potentially be ported to the new property.

2. Check Your Current Mortgage

We will review your existing mortgage balance, interest rate, monthly payment, deal end date and whether any early repayment charges apply.

This helps us understand whether staying with your current lender, porting your mortgage or arranging a new mortgage may be worth considering.

3. Work Out Your Budget

We will look at your income, commitments, deposit or equity, sale price, purchase price and likely costs.

This gives you a clearer idea of what you may be able to borrow and what sort of property budget may be realistic.

4. Agreement in Principle

Once the likely route has been identified, an Agreement in Principle may help show estate agents that your position has been reviewed.

This can be useful before viewing properties or making an offer.

5. Offer Accepted

Once your offer is accepted, the full mortgage recommendation and application can be prepared.

At this stage, the lender will assess the application, documents, affordability and property valuation.

6. Solicitors, Survey and Mortgage Offer

Your solicitor will deal with the legal work, searches, enquiries and contract process. You may also decide to arrange a survey depending on the property.

If the lender is satisfied with the application and valuation, they will issue a mortgage offer.

7. Exchange and Completion

Once the mortgage offer, legal work and chain are ready, contracts can be exchanged and a completion date agreed.

On completion, your sale and purchase complete, and you can move into your new home.

Selling and Buying Again

When you are moving home, your mortgage options will often depend on the sale of your current property and the purchase of your next one.

The amount of equity available, your existing mortgage balance, any early repayment charges and your new borrowing requirements can all affect the route that may be most suitable.

Selling Your Current Home

Your sale price, remaining mortgage balance and any selling costs will help determine how much equity may be available for your next purchase.

If there is a chain, the timing of your sale and purchase also needs to be considered carefully.

Buying Your Next Home

Your next purchase will need to fit the lender’s affordability assessment, property criteria and loan-to-value limits.

The lender will also assess the property being bought before issuing a mortgage offer.

Can You Take Your Current Mortgage With You?

Some mortgage products are portable, which means you may be able to move your existing mortgage deal to a new property.

Porting is not automatic. Your current lender will still need to assess the new application, your affordability, your circumstances and the property being purchased.

If you need to borrow more, the extra borrowing may be arranged on a different rate with the same lender, depending on their criteria and products available at the time.

When Porting Your Mortgage
May Be Better

Porting may be worth considering if you have an existing mortgage deal with early repayment charges, or if your current rate is lower than the rates now available.

It can sometimes help reduce the cost of moving, although it still needs to be suitable overall.

When a New Mortgage
May Be Better

A new mortgage may be worth considering if another lender offers a more suitable deal, your circumstances have changed, or your current lender cannot support the borrowing you need.

The best option depends on the overall cost and suitability, not just the interest rate.

Important Note

Porting your mortgage does not guarantee approval. Your lender will still need to assess the new property, your income, affordability, credit profile and overall circumstances.

Costs and Next Steps When Moving Home

Moving home usually involves more than just arranging the mortgage. You may need to budget for selling costs, buying costs, legal work, surveys, removals and any charges linked to your existing mortgage.

Understanding these costs early can help you plan your move properly and avoid surprises later in the process.

Selling Costs

If you are selling your current property, you may need to budget for estate agent fees, solicitor fees and any costs linked to repaying your existing mortgage.

If your current deal has early repayment charges, these will need to be checked before deciding whether to port your mortgage or arrange a new one.

Home Buy Costs IconDocument checklist icon showing home buy costs, deposit, solicitor fees, homebuyer survey, stamp duty and total with a question mark.HOME BUYCOSTSDepositSolicitor FeesHomebuyer SurveyStamp DutyTOTAL?

Buying Costs

When buying your next property, you may need to budget for solicitor fees, searches, survey costs, valuation fees, lender fees and Stamp Duty Land Tax where applicable.

The exact costs will depend on the property, lender, mortgage product and solicitor involved.

Next Steps

Once your budget and mortgage options are clearer, the next steps are usually getting an Agreement in Principle, viewing properties, making an offer and preparing the full mortgage application.

Your solicitor will then deal with the legal work while the lender carries out the valuation and assesses the application.

Important Note

Some costs depend on your mortgage lender, solicitor, property value, purchase price and whether you are selling, buying or both. If your current mortgage deal has early repayment charges, these should be checked before making decisions.

What I Check During Your Home Mover Review

A home mover review is not just about finding a mortgage rate. The right option needs to fit your current mortgage, sale position, new purchase, affordability, timescales and future plans.

I will look at whether your existing mortgage could be ported, whether a new lender may be more suitable, and how the costs and timing of the move may affect your options.

Your Review May Include

  • Current mortgage balance
  • Existing rate and payment
  • Deal end date
  • Early repayment charges
  • Porting Options
  • New lender options
  • Estimated sale price and equity
  • Purchase price and deposit
  • Income and affordability
  • Credit profile and criteria
  • Property type and valuation
  • Fees, costs and timescales

The cheapest rate is not always the most suitable option once fees, criteria, affordability and your wider plans are considered.

What Documents Might Be Needed?

The documents needed will depend on whether you are staying with your current lender or moving your mortgage to a new lender.

A product transfer can sometimes be more straightforward, while a full remortgage usually involves a new lender assessing your income, commitments, credit profile and property details.

Your Current Property

If you are selling your current home, details of your existing mortgage and sale position may be needed.

This helps confirm your available equity, any early repayment charges, and how your current mortgage affects the next purchase.

  • Current mortgage details
  • Mortgage balance
  • Existing rate and deal end date
  • Early repayment charge information
  • Estimated sale price
  • Estate agent details, if listed
  • Solicitor details, if instructed
  • Expected equity available

Your New Purchase

For the new property, the lender will usually need to assess your income, deposit, affordability and the property being purchased.

This helps confirm whether the new mortgage is affordable, whether the property is suitable, and whether the case meets the lender’s criteria.

  • Proof of income
  • Recent bank statements
  • Proof of ID and address
  • Deposit or equity details
  • Property purchase details
  • Estate agent memorandum of sale
  • Solicitor details
  • Credit commitments

Helpful Note

You do not need to have everything ready before booking a review call. The first step is to understand your position, then I can explain which documents are likely to be needed based on the route you choose.

Common Home Mover Questions

Common questions about selling, buying again, porting your mortgage, affordability, deposits and what happens once your offer is accepted.

Yes, but you may need to consider whether any early repayment charges apply if your current mortgage is repaid before the deal ends.

Some mortgages are portable, which means you may be able to move your existing deal to a new property, but this is not guaranteed. Your lender will still need to assess your circumstances and the property being purchased.

Porting means moving your existing mortgage deal from your current property to a new property.

Although the rate may be portable, the lender will usually still need to carry out a new assessment. They will look at your income, affordability, credit profile, the new property and whether any extra borrowing is needed.

Possibly. This depends on your income, commitments, deposit or equity, credit profile, property value and the lender’s affordability assessment.

If you need to borrow more than your existing mortgage balance, the extra borrowing may be arranged on a different rate, depending on the lender and the products available.

In many cases, yes. An Agreement in Principle can help you understand what may be affordable before you start making offers.

It can also help show estate agents that your mortgage position has been reviewed, although it is not a guaranteed mortgage offer.

Possibly. If your mortgage is portable and your lender is happy with the new application, you may be able to stay with them.

However, it is still worth comparing this against other options, because a different lender may sometimes offer a more suitable overall solution depending on your circumstances.

Typical costs may include estate agent fees, solicitor fees, search fees, survey costs, lender fees, broker fees, removal costs, Stamp Duty Land Tax where applicable, and any early repayment charges on your current mortgage.

The exact costs will depend on your property value, purchase price, mortgage product, lender, solicitor and whether you are selling, buying or both.

Possibly. Changes to your income, employment, credit profile, family circumstances or financial commitments can all affect your mortgage options.

This is why it is worth checking your position early, especially if you are relying on porting your current mortgage or borrowing more for the new property.

Once your offer is accepted, the full mortgage application can usually be prepared and submitted.

The lender will assess your application, documents and property valuation. Your solicitor will also deal with the legal work, searches, enquiries and contract process before exchange and completion.