Moving home with your mortgage
Or 'porting your mortgage'
Your home may be repossessed if you do not keep up repayments on your mortgage.
If you are an existing mortgage customer and you're thinking about moving home, you may be able to take your current mortgage deal with you to your new property. This is called 'porting your mortgage'.
Porting your mortgage effectively pays off your existing mortgage and transfers your deal to your new property.
What are the benefits of porting a mortgage?
Keeping your current interest rate - if your current rate is lower than what's available, you can keep it until the end of the deal term.
What porting means for you
Is my mortgage portable?
Check your mortgage offer letter to find out if your mortgage deal is portable. If you can't find it, just call us to find out.
How do I port my mortgage?
Call us or book a telephone appointment online. We will discuss your options, then you can apply to port your mortgage.
How much does it cost to port a mortgage?
There is no fee to port a mortgage.
Will there be financial checks?
Borrowing amounts
Borrow the same or less
When you port your mortgage you can move the whole mortgage or change the amount you borrow.
If you pay off some of your current mortgage when you port your deal, you may have to pay early repayment charges.
Changes to your property value
I would like to borrow more
You could top up your mortgage amount by taking out an additional mortgage deal to buy your next property.
To apply for the top up amount you will need to meet our lending criteria. As with any mortgage application, we will do affordability checks for your new mortgage deal.
To work our how much more you need to borrow, use this sum:
New property value minus Current property value equals Extra borrowing amount.
You may have to pay early repayment charges if you don't buy and sell on the same day. These will be refunded as long as you complete on your new property within 6 months.
Will I pay early repayment charges
If you borrow less
If you borrow more
If you increase your mortgage, you won’t pay any early repayment charges.
If you borrow the same amount
If your sale and purchase don’t complete on the same day
I need to add or remove someone from my mortgage
Will I need a conveyancer or legal advice to port my mortgage?
Call us
Monday to Friday: 9am to 5pm
Saturday: 9am to 1pm
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