You might be able to 'port' your mortgage to your new home and avoid paying an early repayment charge.
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Understanding your options
You’ll need to decide whether to take your current deal with you – that’s called ‘porting’ – or pay off your current mortgage and get a new one. Porting usually needs your lender’s approval.
Keep your mortgage
Move your mortgage to your new home and keep the same borrowing.
- You might be able to keep your current interest rate, which could be lower than today’s rates.
- You won’t have to pay an Early Repayment Charge because you’re not ending your deal early.
- Apply in a few simple steps using Manage your Mortgage, if you’re keeping your borrowing the same.
Change your borrowing, keep your mortgage
Move your mortgage to a new home and change your loan amount.
- You might be able to keep your current interest rate, which could be lower than today’s rates.
- You may not have to pay an Early Repayment Charge because you’re not ending your deal early.
- You can borrow more or less. Any extra amount will be at today’s rates and will include affordability checks.
Start your new mortgage
Pay off your mortgage when you sell your home and get a new mortgage on your new home.
- If you end your deal early, you might pay a fee called an Early Repayment Charge (ERC).
- If you're on Standard Variable Rate (SVR), then there would be no Early Repayment Charge (ERC) for paying off your mortgage.