Move home

Residential

When the time comes to move, there can be lots to think about and do. That’s why it’s good to know you could make things a little easier by transferring your current mortgage rate to your new home. At an already busy time, this could save you time and extra hassle.

Image of Move home
Your options explained

We know that sorting the mortgage for your new home can sometimes be confusing, particularly as every move is different.

To keep it simple, we have two options you can choose from:

  1. Move your current rate and balance to your new property, avoiding any Early Repayment Charges (if applicable). If you need to borrow more, you can do this on one of our home mover deals.
  1. Choose one of our home mover deals for the new mortgage. You need to make sure you’re not in a promotional period on your current mortgage, or be happy to pay any Early Repayment Charges.

The good news is that you don’t need to worry about what to choose. As part of our free advice service, we’ll take you through all your options when you apply to transfer your existing mortgage rate. We do this by asking some questions and then making our recommendation based on what’s right for you.

Whatever option you end up taking, before paying back your existing mortgage (also known as redeeming), you’ll need to submit your application to transfer it to your new home. You’ll also need to complete the new purchase within 3 months of selling your current home. If you don’t do this, you won’t receive a refund of any Early Repayment Charges paid, and you’ll need to select a new mortgage deal from our product range. There may also be restrictions on the Loan to Value (LTV) of the new home that you’re purchasing.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Speak to us for advice

If you’re thinking of moving home, it’s important that you talk to us first. This is so we can assess your current financial situation and make the right recommendation for your needs.

As part of the application process, we’ll ask you to confirm:

  • Your income;
  • Details of the new home you’re looking to purchase;
  • Details of your current financial commitments (including outstanding amounts and monthly payments).

To make things as quick and easy for you as possible, it’s worth having these details to hand before you speak to us. Our advice service is free to use.

Call later

 

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

Thinking of moving home and borrowing more? Our quick and easy to use calculator will give you an idea of how much your monthly mortgage payments could increase by.


Borrowing more calculator


 

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

 

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