HOME MOVER
MORTGAGE ADVICE

Home movers typically have three main mortgage options:

1. Staying with your current lender – This may seem convenient but isn’t always the most cost-effective. Exploring multiple lenders could help you find better rates.
   

2. Switching to a new lender – This option allows you to access competitive deals on the market, but watch out for any early repayment charges on your existing mortgage.
   

3. Porting your mortgage – You can transfer your existing mortgage to your new home, but if the new property costs more, you’ll need an additional loan to cover the difference.

Mortgage porting involves transferring your current mortgage to a new property. It’s a good option if you’re happy with your current deal and want to avoid early repayment charges. However, for more expensive properties, you may need to apply for additional borrowing to cover the shortfall.

Switching lenders can offer more competitive rates and better terms, especially if your current lender’s deal isn’t the best on the market. However, always check for any early repayment charges on your existing mortgage before making a decision.

• Upsizing: Be prepared for higher monthly payments and consider how this aligns with your long-term financial goals.
  

• Downsizing: This can often simplify your finances, freeing up funds for other needs.

At More Financial, we take the stress out of finding the right mortgage. Whether you’re switching lenders, porting your mortgage, or exploring new options, our expert advisers provide personalised guidance to match your needs.

👉 Contact us today to learn how we can make your move seamless and hassle-free!