A home mover mortgage might be necessary if you intend to move or are already in the process of doing so. Whether you want to relocate or move up the property ladder, moving is a fantastic opportunity to reevaluate your current mortgage and search for a better deal.
What is a home mover mortgage?
A home mover mortgage is no different to a standard mortgage. It’s simply the process of getting a new mortgage when you move house so the mortgage is suitable for the house you’re moving into. Getting the right mortgage is crucial as you will need to ensure it is still affordable whilst suiting your changing needs.
How does a home mover mortgage work?
Early Repayment Charges (ERC)
Remortgaging is the process of switching your mortgage to a different lender. As with any remortgage, you should confirm whether there are Early Repayment Charges (ERC) or other fees associated with ending your current agreement earlier than planned. Before thinking about changing your mortgage, you should see if these are included in your present loan.
We will look at your present mortgage and determine whether switching to a new mortgage arrangement or transferring your current one to your new house is in your best interest.