Moving Home?

Get mortgage advice to help you buy your new home

You already own your current home, but have decided the time has now come for you to move on.

There are a variety of reasons people move home. Whether you are looking to upsize, downsize or move to a different area for work or schools, I am here to help guide you through the whole process from start to finish.

There is lots to consider when planning a house move such as

  • If selling your home in Gretna, Annan, Lockerbie or Dumfries you will need a home report

  • If selling your home in Carlisle you will need an energy performance certificate (EPC)

  • Finding and appointing an estate agent/solicitor to market your property

  • Appointing a solicitor to complete the conveyancing for your sale and purchase

  • Organising removal of your furniture and belongings

  • Appointing relevant trades people, such as gas engineers to install any appliances

  • Updating your address with your banks, insurers and driving licence to name a few

  • Registering for new doctors and schools

  • Updating your local council of your change for council tax

  • Registering on the electoral roll for your new home

With so many other considerations to take into account, ensuring you get the right mortgage for your house move is an area you can rest assured knowing you have my professional help supporting you throughout, leaving you free to find your perfect home.

What are my moving home mortgage options?

Port your mortgage

This option may be available from your current mortgage provider. 

If you continue to meet their current criteria, and they will loan you the amount you need then you can consider what is called "Porting your mortgage" to the new house. This method will often mean you can avoid paying any early repayment charges on your current mortgage.

If upsizing you may need to borrow more, which will be at a rate offered by your current lender at the time you apply.

It is worth noting you may still be charged an early repayment charge if your sale and purchase don't complete simultaneously.

Take a new mortgage with my current lender

One option for your new mortgage could be to stay with your current mortgage provider.

If you are on a product with no early repayment charges, you may wish to stay with your lender and take out a new mortgage on a new rate. 

This could be because they provide the most competitive rate whilst allowing you to achieve your home buying goals, it could be because you are happy with their service or because you value you do not meet the criteria of other mortgage providers.

Move to a new mortgage provider

Having explored all your options, and considered costs  involved with all it may still be beneficial to take out a mortgage with a new provider.

It could also be that your current mortgage lender will not loan you the amount you need to buy your new house.

Whatever the reason you would need to consider overall costs involved, any early repayment charges, whether this is something you are comfortable with paying and if doing so would still leave you with enough equity/savings available to buy your new home.

Having access to the whole of the market provides more options to find a lender that will be most competitive, whilst helping you achieve your new home.