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Appointed Representative of The Right Mortgage Network (FCA No. 1004260). Company No. 15189091. Registered in England and Wales.
Mortgages · Buying and moving
Porting Your Mortgage When You Move
“Moving home doesn’t mean starting from scratch.”
If you’re moving home and still in the middle of a fixed rate deal, you may be able to port your existing mortgage to your new property, keeping your current rate and avoiding early repayment charges.
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Quick answer
Porting means taking your existing mortgage deal with you to a new home. Your current rate stays on the balance you move, and any extra borrowing goes on a new product at today’s rates. The main thing to know is that porting isn’t automatic: your lender reassesses affordability and the new property, and can say no.
What moves with you
Your rate on the existing balance
Extra borrowing
On a new product at today’s rates
When to start
Before you accept an offer on your home
Main thing to watch
The port can be declined
What actually happens when a mortgage is ported
Your lender treats a port like a new application for the balance you’re moving: new affordability checks, a valuation of the new home, and legal work.
If you’re upsizing, the extra borrowing sits on a separate product, so you may end up with two rates and two end dates.
If you’re downsizing, you’ll repay part of the loan, which can trigger a partial early repayment charge.
Porting to a more or less expensive home
Moving up: you port your balance and borrow the difference on a new product. We’ll compare the combined cost with a single new mortgage.
Moving down: you port a smaller balance and repay the rest. We’ll check whether the repayment triggers a charge and how much.
Eligibility and what lenders assess
Who may qualify
Homeowners with a portable mortgage who are moving home.
Equity and LTV
The new loan to value must fit your lender’s limits.
Income and affordability
Reassessed as if you were applying fresh.
Credit history
Your record since the original mortgage matters.
Property requirements
The new home must meet your lender’s criteria.
Common reasons for decline
Lower income than before, or a property type your lender won’t lend on.
What happens from first call to completion
1
Review your circumstances
A proper conversation about your income, commitments, plans and timescales before anything else.
2
Check affordability and criteria
We check what lenders will realistically offer and whose criteria you fit, before any credit search.
3
Compare suitable options
We compare the market on total cost, not just the headline rate, and explain the trade offs.
4
Prepare and submit the application
We package your documents so the underwriter has what they need first time.
5
Manage valuation and underwriting
We chase the lender, valuer and solicitor and deal with any questions that come up.
6
Receive your offer and complete
Once the offer is issued we keep things moving through to completion day.
Costs, risks and when it may not be suitable
Being upfront about this is part of doing it properly.
Costs to budget for
- Product and arrangement fees
- Valuation and legal costs
- Early repayment charges if you leave a deal early
- The total cost of borrowing over the full term, not just the initial rate
- A longer term lowers monthly payments but increases the total interest you pay
Risks to weigh up
- Two products with different end dates can complicate future remortgages
- If the port is declined, the early repayment charge still applies
- Your home may be repossessed if you do not keep up repayments on your mortgage
When it may not be suitable
- If market rates are well below your current rate, paying the charge can be cheaper
- If your circumstances have changed since you took the deal, affordability may fail
What you will need
The exact list depends on your lender, but this is what to start gathering.
Photo ID and proof of address
Bank statements (usually 3 months)
Details of credit commitments
Existing mortgage statement
Payslips or accounts
Memorandum of sale
How MBNM helps
- Assess your circumstances properly, not just your salary
- Compare suitable lenders and products across the whole market
- Check criteria before an application goes anywhere near a lender
- Explain the total costs and trade offs in plain English
- Manage the application and chase the people who need chasing
- Support you all the way through to completion
What it costs
Your first chat is free. If we can help, we will explain any fees before you decide whether to proceed. There are no hidden fees, and we will not move forward until you have agreed them.
Mortgage Porting FAQs
Is porting always the best option?
What if I need to borrow more?
What if the port is declined?
Is every mortgage portable?
Do I have to complete on the same day?
Will I pay fees to port?
Moving mid deal?
Send us your current mortgage details and we’ll tell you whether porting or a new deal works out cheaper.
Your first conversation is free and there's no obligation. If we can help, we'll explain any fees before you decide whether to go ahead.
Your home may be repossessed if you do not keep up repayments on your mortgage.