Moving house mortgage

How mortgages work when moving house

Moving house mortgage

Moving house mortgage advice

Moving home is generally a great time to review your mortgage to ensure that it still meets your borrowing needs. As a whole market 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. Our advice is completely free and without obligation!

Moving house mortgage
  • Moving mortgage to new house

    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.

  • Remortgaging with same lender

    To avoid potentially having two mortgages, you could replace your existing mortgage with a new moving house mortgage from your current lender and potentially get a much better rate at the same time. However, to leave your current deal, you will usually have to pay an early repayment charge and possibly an exit fee. As you are taking out a new mortgage, there will usually be an arrangement fee and valuation fee to pay too.

  • Switching mortgage lenders

    If you find a better moving house mortgage with a different lender, you could remortgage with them and clear your existing mortgage. Again, your current mortgage lender will likely charge an early repayment fee and exit fee for doing so, and you will generally need to pay an arrangement fee and valuation fee to your new lender too.

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Thank you Joanna for such a lovely experience! Joanna was so helpful and efficient at keeping us informed throughout the process of getting our mortgage approved. We would highly recommend Joanna and the team.
Emily-Jane Lowe
Emily-Jane Lowe
2021-01-19
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A huge thank you to both Jonathan and Gemma for all they have done to assist us in our mortgage application. They've stayed on the case for us throughout the process even though it's been difficult due to lockdown delays etc. but we now have our offer so we're delighted! I've worked with Jonathan for a while now on both business and personal lending requirements and he is always professional, helpful, efficient and will pull out all the stops to find the right product for me, even when I'm not sure what route I want to take! I would have no hesitation in recommending Fosters Financial.
Karen Hall
Karen Hall
2021-01-13
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Fantastic service from start to finish. Kind, helpful, professional. Nothing was too much trouble, made a stressful time stress free. Highly recommended.
customer
customer
2021-01-12
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Joanna Everett at Fosters Financial has been absolutely amazing throughout my whole mortgage process. Having had a difficult experience with a broker at another firm Joanna was like a breath of fresh air. Knowledgable, approachable, prompt and professional - I can't thank her enough for turning around my house buying experience!
Antony
Antony
2020-12-16
Verified
John, Tracy and Gemma have given service which has been second to none as always. Thank You. Would highly recommend.
Nigel
Nigel
2020-12-15
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Good experience with Fosters Financial Sian was very helpful and explained things to me in much detail (first time buyer) I always felt like I could ask any question that I needed to. She made the process as stress-free as possible and I would 100% recommend Sian and Foster's Financial. Worth every penny!
Lauren Inez Renda
Lauren Inez Renda
2020-12-08
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Couldn’t recommend Fosters Financial enough!
Johnny Hulus
Johnny Hulus
2020-12-06
Verified
Really happy with the service received from Foster Financials. Very friendly and approachable staff and answered all my questions throughout the application process. Highly recommended!! Thank you Sian and Connor :)
Eli
Eli
2020-12-05
Verified
Can't recommend highly enough. Professional, friendly and fair. They went above and beyond and nothing was ever too much trouble. Excellent all round.
Lindsey Ilsley - Martha Elma
Lindsey Ilsley - Martha Elma
2020-12-04
Verified
Fantastic service! 2nd time we have used fosters for our mortgage! Quick and amazing results Thank you Johnathan
customer
customer
2020-12-04

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