If you’re moving home partway through a mortgage deal — especially a good fixed rate — you don’t necessarily have to give it up. “Porting” lets you take your existing mortgage to your new property. It sounds simple, and sometimes it is, but there are catches worth knowing.

How porting works

Most mortgages are “portable”, meaning the rate and terms can move with you to a new home. The main appeal is avoiding an early repayment charge for leaving your deal early, and keeping a rate that might be better than what’s currently available.

Where it gets complicated

It’s not automatic. Porting means re-applying. The lender reassesses your circumstances against their current criteria — income, affordability, credit. If your situation has changed (a drop in income, a new dependant, self-employment), there’s a chance you no longer fit, even though you already have the mortgage.

Borrowing more. If your new home costs more, you’ll likely need to borrow extra. That top-up is usually on a separate, current deal at today’s rates — so you can end up with two parts on different rates and end dates, which gets fiddly.

Borrowing less. If you’re downsizing and need less, you may face an early repayment charge on the portion you’re reducing.

Timing. Sale and purchase don’t always complete on the same day. Lenders allow a window to port, but it’s worth understanding the deadlines so you don’t fall outside them.

The bottom line

Porting could save you money and hassle, but whether it’s actually the best option depends on the numbers — sometimes paying an early repayment charge to switch to a better deal works out cheaper overall. That’s the kind of comparison we do all the time. Before you assume you’re stuck with porting (or assume you can’t), talk to us and we’ll run the figures.

Your home may be repossessed if you do not keep up repayments on your mortgage.

We charge a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £149 to £499 and this will be discussed and agreed with you at the earliest opportunity.