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22 Jan 2025Moving home is an exciting time - but what if you already have a mortgage? You might be wondering if you’re able to transfer your mortgage to a new property, a process known as mortgage porting. Mortgage porting can be a great way to keep your existing mortgage terms while avoiding early repayment charges.
However, porting isn’t always straightforward, and whether it’s the right choice depends on your lender, financial situation, and the property you’re buying. If you’re considering transferring your mortgage, here’s everything you need to know.
What is Mortgage Porting?
Mortgage porting is when you transfer your existing mortgage to a new property while keeping the same lender, interest rate, and terms. Many lenders in the UK offer porting options, especially for fixed-rate mortgages. However, just because a mortgage is portable doesn’t mean it’s automatically approved – you'll need to meet your lender’s affordability checks, and the new property must fit their criteria.
Mortgage porting is often an attractive option for many, but it’s important to weigh up the pros and cons for your specific case before deciding. Working with our experienced mortgage brokers in Birmingham, Wolverhampton, or throughout the West Midlands, can help you understand if it’s the right move for you.
Why Might You Want to Transfer Your Mortgage?
Avoiding early repayment charges (ERCs):
If you’re in a fixed-rate mortgage, repaying it early to switch lenders could come with hefty penalties. Porting allows you to sidestep these fees.
Keeping a competitive interest rate:
If your current mortgage deal has a lower interest rate than those currently available, porting can help you retain it.
Simplifying the mortgage process:
Sticking with your existing lender can make moving home less stressful, as you’re not starting from scratch with a new application.
Borrowing more (if needed):
If your new home is more expensive, your lender may allow you to top up your mortgage with an additional loan, though this could be at a different rate.
If you’re unsure whether porting is right for you, our mortgage advice services here at RM Mortgage Solutions can give you the tailored advice you need to make the best decision for you and your homeownership goals.
How Do You Transfer a Mortgage to Another Property?
If you’re thinking about porting your mortgage, here’s how the process usually works:
1. Check with your lender:
Not all mortgages are portable. This first step is to speak to your lender or independent mortgage brokers like ours to confirm your eligibility.
2. Reapply for your mortgage:
Even though you’re an existing customer, you’ll need to pass affordability checks and prove your financial stability.
3. Property valuation:
The new property must meet your lender’s criteria. They’ll carry out a valuation to ensure it’s a suitable security for the loan.
4. Top-up or adjustments:
If your new home is more expensive, you may need to apply for additional borrowing, which could be on different terms.
5. Complete the move:
Once everything is approved, your mortgage will be transferred, and you can focus on settling into your new home.
If your lender doesn’t allow porting or it’s not the best financial move, remortgaging with a new lender might be a better alternative.
Make Mortgage Porting Easy with RM Mortgage Solutions
Mortgage porting can be a great way to move home without giving up a great mortgage deal – but it’s not always the right solution for everyone. The key is to understand your lender’s criteria, your financial position, and whether porting makes sense for your future.
Here at RM Mortgage Solutions, our friendly, expert mortgage advisors in Sutton Coldfield, Tamworth, Lichfield, and other areas in the West Midlands, are here to make the process simple and stress-free. Whether you want to port your mortgage, remortgage, or explore other options, our advisors will help you find the best solution for your unique needs.
Ready to discuss your mortgage options? Get in touch online or call us on 0121 468 4514 for a free, no-obligation chat today!

Richard Moring
Director
Richard entered the mortgage market in 1987, working for various lenders before joining Shipways estate agents as a Mortgage Advisor. In January 2009 Richard set up RM Mortgage Solutions using the skills learnt in his previous roles to ensure that clients are provided with the best possible service. In discussing mortgages in plain English, Richard believes that his clients experience a better understanding of the mortgage proc.
In his spare time Richard enjoys trying new food experiences, walking, gets satisfaction from DIY (when it goes right!) and working out the perp in crime dramas.
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