Moving house mortgage

How mortgages work when moving house

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Moving house mortgages

When you move home it is important to check that you have the right moving house mortgage for your needs. Most mortgage lenders will let you port a mortgage from one property to another, which could be a good option if you are buying a home of a similar value. But if you need to borrow more money to purchase your new home, you will usually need to apply for another mortgage to cover the additional cost, which could have a higher interest rate and the added cost of an arrangement fee.

As a mortgage broker, we can help you check that you have the best deal by comparing thousands of products from the UK’s top lenders. We will also help you to review your current deal, by checking to see if a new mortgage deal would still be the preferred option once you have paid any associated fees. If we recommend applying for a new mortgage and you are happy to do so, we will also arrange the entire process from start to finish for you.

If you are thinking of moving home and would like to discuss your options, then get in touch to book a consultation with one of our friendly mortgage advisors. We don’t charge a fee for our initial consultation and it comes without obligation!

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Remortgage with same lender

To avoid potentially having two mortgages, you could remortgage with the same lender and potentially get a much better rate at the same time. You will usually have to pay an early repayment charge and exit fee. And, as you are taking out a new mortgage, there will usually be an arrangement fee and valuation fee to pay too. But it could still be worthwhile which is where we can help.
Switch mortgage provider

If you find a better moving house mortgage with another lender, you could switch mortgage provider and clear your existing mortgage. Again, your current lender will likely charge an early repayment charge and exit fee. And, you will generally need to pay an arrangement fee and valuation fee to your new lender too. But we can help you see if it would be the best decision for you.

Moving mortgage to new house

Want to know how to move your mortgage to another house? Watch our video to find out how you can do just that and more!

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 Trustindex verifies that the original source of the review is Google. Foster Financial has provided an excellent service throughout the five years I have been with them. Most recently, despite the complexity involved in transferring the share of a property, they were extremely supportive and introduced me to a firm that completed the work efficiently and professionally. I am truly grateful for their help and would confidently recommend Foster Financial to anyone seeking fast, reliable and trustworthy service.
  
 
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   Jane Bryant 
 
 
 
 Trustindex verifies that the original source of the review is Google. We've been very happy with the service we have received from Fosters Finsncial. They helped us find our mortgage 5 years ago. This year our 5 year fixed rate ended and they help us to find a competitive rate. Excellent service, no complaints!
  
 
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   Will Ellis 
 
 
 
 Trustindex verifies that the original source of the review is Google. Ashley and the team at Fosters Financial were very helpful in advising us through getting a mortgage secured for our new home, helping answer anything and everything in the process. It felt like having a friend to call on for guidance and to do the heavy lifting for you. Thanks Ashley!
  
 
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 Trustindex verifies that the original source of the review is Google. ⭐️⭐️⭐️⭐️⭐️ Five-Star Service!

I’ve been using Fosters Financial for the past 2.5 years and I honestly can’t recommend them highly enough. Isaac is absolutely brilliant!

He has helped me with my mortgage transfer when I moved home and, more recently, my remortgage at the end of my two-year fixed term. Throughout both processes, Isaac has been extremely knowledgeable, helpful and patient. He is always available to answer my questions or explain things again when I don’t quite understand them.

He genuinely takes the stress out of the
whole process, and everything has always been handled smoothly and professionally.

I wouldn’t use another broker and have already recommended Fosters Financial to friends, family and work colleagues. **Five-star service from start to finish!
  
 
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 Trustindex verifies that the original source of the review is Google. Isaac at Fosters helped us to buy our first property 2 years ago and is currently helping us to buy our second. In our view, he is the benchmark for what a broker should be: professional, honest, and able to deliver on what he says and quickly at that.

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 Trustindex verifies that the original source of the review is Google. Once again, the service from Fosters has been exceptional. Amy Lombardi and Katy Canham were always responsive, helpful, and ready to answer any questions. Richard Moon supported us with our life insurance, ensuring we had the exact coverage we needed with an honest, no-pressure approach. Fosters made the entire process smooth and took the stress out of sorting one of life's essentials. Highly recommended!