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Mortgages for Moving Home
Moving home can be a stressful situation, but you’re in safe hands with our local mortgage brokers who scour the market for the best deals and provide professional and impartial advice to help you make a decision. We’re on hand to help you work out what’s right for you, so you can concentrate on getting the move sorted.
What are my mortgage options if I’m moving?
When you move home, you will have the following mortgage options available to you:
- Porting your mortgage with an existing lender, borrowing an additional amount if this is needed to cover the cost of your new home.
- Taking out a new deal with the current lender to replace your existing mortgage.
- Taking out a brand-new mortgage deal with a new lender.
The mortgage basics of moving home
To make your new dream home a reality, and it ensure it’s affordable once you get there, it’s important that you get the right mortgage deal from the start.
On average, you will need to have at least 5%-10% of the purchase price to put down as deposit on the new property. This often comes from the sale of your existing property. If you don’t have enough equity in your home, you may need to top up the savings to secure the mortgage you need.
The next step is to contact a local mortgage broker to provide advice on which mortgage would be beneficial for you. We can help run you through all the available mortgages that suit your needs, and provide professional and impartial advice.
Most mortgages nowadays are portable, meaning a mortgage can be transferred from the property you originally lived in to the one you want to move into. Portable mortgages will incur a fee to pay for the transfer. Dan The Mortgage Man can discuss your options and offer advice on what is best based on your circumstances.
Get in touch with professional mortgage brokers today
Whatever your mortgage situation, we are here to listen, help and provide advice. We are available to contact Monday to Friday 9am to 8pm, so please call the team on 07837 820 894 or email info@DanTheMortgageMan.co.uk.