Moving home? Let’s make it simple
Whether you’re upsizing, downsizing or relocating, getting the right mortgage in place is key. We’ll help you explore your options with expert home mover mortgage advice, making the process as stress-free as possible.
What is a home mover mortgage?
Moving home comes with a lot of moving parts – from selling your current property to securing your next one, and everything in between. A home mover mortgage is simply the mortgage you’ll take out when buying your next home, whether you’re upsizing, downsizing or relocating.
Unlike buying for the first time, you’ll now have equity in your current home, which can be used towards your next deposit – and that can make a big difference to the deals available.
But the mortgage is only one piece of the puzzle. Coordinating sale and purchase timelines, budgeting for moving costs, and deciding whether to port your existing mortgage or switch to a new one all come into play.
With the right support, moving home doesn’t have to be overwhelming – it just needs the right plan in place.
Not sure where to start? An experienced mortgage adviser can guide you through every step – from weighing up your options to making sure the finances line up on moving day.
Your mortgage options when moving home
When it comes to moving, your mortgage isn’t always something you need to completely start from scratch – depending on your current deal, you might have more flexibility than you think.
Porting your current mortgage
If you’re currently on a fixed-rate mortgage, you may be able to port it to your new property. This means transferring your existing mortgage to your new home – avoiding early repayment charges and keeping hold of your current rate, potentially saving money.
Lenders will still reassess your affordability and the new property, so it’s not guaranteed – but it’s often the smoothest and most cost effective route if you’re mid-deal.
Getting a new mortgage
If porting isn’t available, or doesn’t suit your new plans, you’ll likely need a brand-new mortgage deal. You might be able to borrow more, change your mortgage type, or switch lenders altogether to secure a better rate or more favorable terms.
Borrowing more or less
Whether you’re moving to a bigger home or something more manageable, your mortgage can often be adjusted to match. You might need to increase your borrowing if you’re upsizing, or take out a smaller mortgage if you’re buying for less than your current property’s value.
What lenders look at when you move home
Even if you’ve had a mortgage before, applying again means lenders will still want to assess your current situation. Every move is treated like a fresh application – so they’ll take a full look at your finances to check what’s affordable now.
Here’s what usually gets reviewed:
- Your income and outgoings: Lenders want to see you can comfortable afford the new mortgage alongside your day-to-day expenses.
- Credit history: Your credit report helps lenders judge how reliable you are when it comes to borrowing.
- The property value: Just like before, lenders will want a valuation to ensure the property is suitable security for the loan.
- Loan-to-value (LTV): This is how much you’re borrowing compared to the property value. The bigger your deposit (or equity from your sale), the better the rates tend to be.
- Employment status: Whether you’re employed, self-employed, or have recently changed jobs, your employment details will be reviewed.
If you’re porting your existing mortgage, this still applies – especially if you’re topping up or adjusting the loan amount. But don’t worry, we’ll guide you through exactly what’s needed based on your move.
How the home moving Process Works
If you’ve bought before, you’ll know the basics – but moving home has a few extra steps. This time, you’re selling and buying, so there’s more coordination involved, especially if you’re part of a chain.
Here’s how the process typically unfolds:
1. Get home mover mortgage advice early
Before you start booking viewings, it’s worth checking what you can afford – and whether you can port your current mortgage or need a new one. We’ll help you understand your options from the start.
2. List your property and view new ones
Once you’re clear on your borrowing and budget, you can list your current home for sale and start viewing potential new ones. Timing is key here – ideally, you’ll aim to accept and make offers at the same time.
3. Accept and make offers
With interest on both sides, you’ll accept an offer on your property and make one on your next. Most home movers end up in a chain – a series of linked transactions that need to complete in sync. It’s normal, but it can affect timelines as everyone needs to be ready to move at the same time.
4. Apply for your mortgage
With the offers agreed, we’ll help you submit your mortgage application. If you’re porting your current deal, this can involve extra checks or a top-up – we’ll manage all of that for you with our expert home mover mortgage advice.
5. Legal work and valuations
Your solicitor will handle the legal side, including contracts, property checks and transfer of ownership. Meanwhile, the lender will arrange a valuation. The pace here depends on the rest of the chain – delays are common but manageable with the right support.
6. Exchange and complete
Once everything’s in place and everyone in the chain is ready, you’ll exchange contracts and agree a completion date. Then it’s time to book the van and start packing.
Want to keep things moving smoothly? We help home movers stay ahead of delays and mortgage hold-ups – so you can focus on getting into your new place, not chasing paperwork.
How an Adviser can Help you when you’re moving home
Moving home involves a lot more than just switching your mortgage. We’re here to guide you through the whole process, from budgeting to completion.
Here’s how we help:
Explore your mortgage options
Whether you’re porting your current deal or switching to a new one, we’ll help you decide what’s best based on your plans and budget
Work out what you can afford
We’ll calculate how much you can borrow and what your repayments could look like – factoring in equity, income, and any changes since your last mortgage
Keep your timeline on track
Whether you’re in a chain or working to a deadline, we’ll make sure your mortgage fits into the bigger picture.
Handle the paperwork
We deal with the admin, chase lenders, and keep things moving – so you don’t have to
Help you avoid costly mistakes
From timing around early repayment charges to common porting pitfalls, we’ll help you avoid the stuff that trips people up.
In short? We take care of the mortgage, so you can focus on the move.
Home Mover Mortgage Advice FAQ’s – Answers to Your Top Questions
Can I take my current mortgage with me when I move?
Yes, this is called porting your mortgage. Many lenders allow it, but you’ll still need to apply and meet their criteria again. It’s worth checking early – a broker can help assess if porting or switching to a new mortgage is more cost effective.
How much can I borrow when moving home?
This depends on your income, outgoings, credit history, and how much equity you have in your current home. Most lenders offer up to 4.5x income, but this can vary – especially if your circumstances have changed since your last mortgage
Do I need a deposit if I already own a home?
Your deposit often comes from the equity you’ve built up in your current property. If you’re upsizing, you may need to top this up with savings. If you’re downsizing, you may not need a deposit at all – and could even reduce your mortgage.
What happens to my mortgage if I’m buying before I’ve sold?
You might need a short-term solution like a bridging loan or see if your current lender allows porting with flexibility. A mortgage adviser can guide you through the right approach based on timing and affordability.
How long does it take to arrange a new mortgage when moving home?
Once your documents are ready, we aim to get your application quickly – usually within a day or two. Most lenders return a mortgage offer within a week or so, but it depends on your situation and the chain.
Can I switch lenders when moving home?
Absolutely. If your current deal isn’t portable or another lender offers a better rate, it can make sense to switch. Just be mindful of early repayment charges on your current mortgage – we’ll help you weigh up the pros and cons.
Should I get a mortgage agreement in principle before making an offer?
Yes – having an AIP (or sometimes called a Decision in Principle, or DIP) shows estate agents you’re a serious buyer, and it gives you a clear idea of your budget. We can usually arrange a same-day decision in principle.
How quickly can I get a mortgage agreement in principle?
We can usually provide a decision in principle the same day, depending on how quickly you can send over the right documents. If you need a quick decision in principle to strengthen an offer or move fast on a property, we’re ready to help.
Ready make your next move smoother?
Whether you’re upsizing, downsizing or relocating, we’ll help take the stress out of the mortgage part. Get expert home mover mortgage advice and support from start to finish – with no jargon, no pressure, and answers when you need them.