Secure your dream home with a home mover mortgage
A home move mortgage isn’t any different from your typical residential mortgage; it’s just the name for the process when you’re getting a new mortgage offer whilst moving house. It may be that your financial situation has changed, you’re moving to a larger property, or you’re changing location. Regardless of your reasoning for a new mortgage, here at The Mortgage Pod, we’re on hand to help make the process as easy as possible.
When is a home mover mortgage necessary?
A home mover mortgage is perfect for those taking the next step up the property ladder and into a bigger home. Whilst some mortgages are portable, meaning you can ‘port’ your mortgage to a new property, your loan amount will typically increase when opting for a new home. Therefore your existing mortgage might not cover the full amount of your new home.
Sit back and relax, knowing you’ve secured the best deal
Here at The Mortgage Pod, our knowledgeable mortgage experts are on-hand to review your financial position and support you in securing your new home with an even better rate on your mortgage! Our brokers will be there for you every step of the way.
We know that searching for a new home, securing a bigger mortgage, and moving home are some of life’s most stressful events, but we’re here to support you in making that process as stress-free as possible: no confusing jargon, no ghosting, and no complicated forms.
So, you better start picking out paint swatches!
How can a mortgage broker support your home mover mortgage application?
While mortgage brokers can help find you the best deals on the market for yourcircumstances, they can also help you to make an informed decision on the best mortgage for you. As they have years of insight and knowledge into the mortgage process, you’ll find that you have the best chances of securing a great deal on your home mover mortgage with a broker by your side.
What else do you need to know?
What is a home mover mortgage?
A home mover mortgage is when you’re moving to a higher valued house, or you’re downgrading, and you wish to change mortgage provider or secure a better deal for your new purchase.
Why do I need a mortgage broker?
A mortgage broker can make securing a home mover mortgage much more straightforward. From scouring the entire market for the best deal for your circumstances to submitting your mortgage application and chasing up the relevant parties, a mortgage broker can make the process much simpler for you.
What is porting?
Many lenders will now transfer your existing mortgage to your new property, called porting.
Are all mortgages portable?
It’s uncommon, but there are some cases in which it’s not possible to port a mortgage. In this situation, you’d have to apply for a re-mortgage or apply for a home mover mortgage.
How does a home mover mortgage work?
If you cannot port your mortgage, you’ll have to pay off your existing mortgage by selling your old property. You will then take out a new home mover mortgage for your new home. By working with a mortgage broker, you’ll have access to the full range of lenders on the market, and they’ll be able to secure you the best deal for your circumstances.