Whether upsizing, downsizing or relocating, let us make your home move hassle free.
When planning to move house, there is often confusion around what happens with your existing mortgage.
As part of the moving process, your existing mortgage is paid off in full and a new mortgage is taken out against the new property. However, ou can also port your mortgage so that you are able to keep the same lender, and the same rates and mortgage terms will be honoured. The lender will arrange a valuation of the new property and will then run a set of financial checks to ensure that you can afford to meet the repayments. If your existing lender is unable to offer you a suitable mortgage product, then it is sometimes necessary to look elsewhere. After all, the mortgage product you have on your current property may not necessarily be the right mortgage for your new one. As independent mortgage advisors, we can offer impartial advice and access a catalogue of mortgage products available from multiple lenders to find the right one for you.
If you are looking to increase the amount of money you are borrowing on your mortgage, which is often the case when moving to a bigger house, we will be able to run through an affordability calculator to determine the parameters of your budget. If you are looking to downsize or decrease the amount of money you borrow on your mortgage, we will talk through your options in terms of releasing equity you may have built up in your current home, reducing monthly repayments or anything else which may be appropriate to your circumstances.
It doesn’t matter whether you have just started to think about moving house or whether you are in a position to place an offer, whereveryou are at in your house moving process, book an appointment now to discuss your next steps.