Home movers
Home Mover Mortgages in Lanarkshire & Scotland
Moving to a bigger home, downsizing or relocating? Tony helps you work out what you could borrow, whether to keep your current mortgage or switch, and how to time the sale and purchase.
Talk to TonyAt a glance
- Compare porting your current mortgage with a new deal from 100+ lenders
- Check early repayment charges before you sell
- Get a mortgage in principle so you can move quickly when you find the right home
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Quick answer
Can I take my mortgage with me when I move?
Many mortgages can be "ported" to a new property, but the lender will reassess your income, credit and the new home first. Porting is not always the cheapest option, so it is worth comparing it with a new deal from another lender.
If you leave your current deal early, you may have to pay an early repayment charge.
What is a home mover mortgage?
A home mover mortgage is the mortgage you take out when you sell your current home and buy another. You might move your existing mortgage across (porting), borrow more on top, or replace it with a new deal altogether.
Who it may suit
Everyone's situation is different, but these are some of the reasons people move.
How it works with Tony
Good to know
- Leaving your current deal early may mean paying an early repayment charge, even if you port.
- Porting usually means a fresh affordability check, and any extra borrowing may be on a different rate.
- In Scotland you may pay Land and Buildings Transaction Tax (LBTT). If you buy before selling, the Additional Dwelling Supplement may apply, which can be reclaimed if you sell your previous home within the time allowed.
- Fees such as arrangement, valuation, legal and estate agent costs may apply.
- Your home may be repossessed if you do not keep up repayments on your mortgage.
Meet your adviser
Hi, I'm Tony Flynn
I'm a mortgage and protection adviser based in Carluke, helping people across Lanarkshire and Scotland.
I've spent 15+ years in finance and have been named Mortgage Professional of the Year at the Prestige Awards Scotland five years in a row. I'll explain your options in plain English so you know exactly where you stand.
Home mover questions
Can I port my mortgage to a new home?
Many mortgages are portable, but the lender will reassess your circumstances and the new property. If you need to borrow more, the extra amount may be on a different rate.
Do I have to stay with my current lender when I move?
No. You can switch to a new lender, but you may have to pay an early repayment charge if you leave your current deal early. Tony can compare both options.
What if I find a home before I have sold mine?
There are options, but they depend on your circumstances. Tony can talk through timing, the Additional Dwelling Supplement and what lenders may allow.
How much could I borrow for my next home?
It depends on your income, outgoings, credit history and the equity in your current home. A mortgage in principle gives you a clearer idea before you start viewing.
Do you charge a fee for mortgage advice?
There may be a fee for mortgage advice. The actual amount you pay will depend upon your circumstances. The fee is up to 1% but a typical fee is 0.3% of the amount borrowed.
Home mover guides
Ready to talk it through?
A quick chat with Tony is a good first step. No jargon, no pressure.
Talk to Tony