Home Mover Mortgages

Moving home can be an exciting but stressful time, especially when it comes to finding the right mortgage. But don’t worry, we’re here to help! Let us help you get the best rates with our expert advice and competitive rates.

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FAQs - Home Mover Mortgages

A Home Mover mortgage works just like a regular mortgage but is designed for those who are selling their current property and moving to a new home. Depending on your situation, you may need a new mortgage that better suits your needs, or you may be able to transfer your existing agreement.

“Porting” your existing mortgage to your new home may seem like a convenient option, but it’s important to consider all your choices. While porting your mortgage may be suitable, you could be missing out on more competitive rates available for home mover mortgages. Our qualified mortgage advisors can help you weigh your options and find the best solution for your needs.

When moving to a new home that costs more than your current property, you may need to increase your loan amount, resulting in higher monthly payments based on your new credit agreement. To obtain a new mortgage, you’ll have to undergo credit and affordability checks similar to those you underwent for your previous mortgage.

You may have the option to “port” your current mortgage agreement and expand the mortgage amount. However, it’s essential to be aware that you could face early repayment charges if you exit your existing agreement before its term ends.

This will depend on the type of agreement you have with your current lender, you will pay early repayment fees if you’re on a:

  • Fixed term mortgage
  • Discounted variable rate

You will not be subject to early repayment fees on a:

  • Standard variable rate mortgage
  • Offset mortgage

Depending on your lender, you may need to pay an early repayment fee on a:

  • Tracker mortgage
  • Interest only mortgage

It’s best to check your documents or speak to the lender or broker who set up your agreement.

We don't charge a broker fee!
Saving you up to £995*

At Prosperity Mortgages we do not believe in charging our clients a broker fee for our service. In the UK, mortgage advisers are typically paid a procuration fee (commission) from the lender you take your mortgage through, which means we still get paid but don’t charge you a fee for arranging your mortgage.

*Based on the maximum broker fee we could choose to charge being £995

£0 Broker Fee

Save up to £995 in broker fees by using Prosperity Mortgages.

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