If you are an existing customer looking to move home, you may be able to avoid paying an early repayment charge by taking your mortgage with you.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.
What is porting?
Porting is where you are buying a new home and you transfer your existing mortgage to the new property.
Although this means you will keep the same rates and features, technically this will be a new mortgage, so you’ll need to complete an application and have an appointment with one of our mortgage advisers to help you through the process.
What are the benefits of porting?
If you’re not sure if porting is right for you, the information below may help you decide between porting or taking out a new mortgage.
Porting your mortgage might be the right choice because:
- It allows you to keep your current interest rate which may be lower than the new rates curently available.
- There may not be an Early Repayment Charge (ERC) to pay as you are not breaking your current deal.
- You can reduce or increase the amount of the mortgage. Any additional borrowing would be on current rates available and will involve affordability checks.
A new mortgage might be the right choice for you if:
- The mortgage rate you are on is higher than those currently available.
- You're already on Standard Variable Rate (SVR) so there would be no Early Repayment Charge.
- You're happy to pay the Early Repayment Charge to change to a new rate.
Things to consider when porting a mortgage
If you are thinking about porting your mortgage, there are a couple of quick checks you can do before you contact our mortgage team to start your application.
Not moving home?
If you are not moving home but want to change your mortgage you could:
Switch your mortgage deal
- If your current NatWest mortgage deal is ending or you’re on our Standard Variable Rate, you could switch to a better deal.
- Visit our switching web page to find out more and get a personalised quote.
Remortgage to NatWest
If your mortgage is with different Lender:
- A remortgage is when you change the mortgage you currently have on your property, by moving it to a new lender.
- Visit our Re-mortgage page to find out more.