Brightfield Business Hub
Bakewell Road, Orton Southgate, Peterborough
hello@thehomefinancehub.co.uk
Business Hours Only
01733 595018
Business Hours Only
Mon - Fri: 9:00 - 17:30
Appointment Available After Business Hours
Bakewell Road, Orton Southgate, Peterborough
Business Hours Only
Business Hours Only
Appointment Available After Business Hours
The Moving Home Mortgage is a great option for home movers looking to move to a new property. With the Home Finance Hub, we can help you apply for a mortgage and help you find out how much you can borrow based on your credit score and affordability.
When selling your current home and buying a new one, consider transferring your mortgage or exploring a new mortgage deal with a different mortgage provider. This way, you can compare mortgage options to get a better rate, especially if you’re moving to a more expensive area.
Don’t forget about additional costs like stamp duty and potential early repayment charges when selling your house. Knowing the valuation of your current home and the equity in your home can help you make informed decisions about your mortgage repayments for your new property.
Whether you’re looking to upsize, scale down, or relocate somewhere new, buying your next home gives you the opportunity to assess your mortgage options. If you need to borrow more money to buy your next home, you can:
You can pay off your existing mortgage with the money from your house sale and apply for a completely new one. You’ll have a new rate and set of terms and conditions.
This is when you move the mortgage you already have to your new home. It can become difficult when your new house is more expensive though. The portion that isn’t covered by the ported mortgage will be subject to a different interest rate. This could make it more complicated if you want to remortgage in the future.
When you’re weighing up which mortgage to choose, there are a few things to bear in mind:
If you are unsure about your options regarding a moving home mortgage, speak with us at The Home finance Hub. We are here to help
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Yes, you can port your mortgage to a new home if your current lender allows it. This means transferring your existing mortgage terms to the new property, which can be beneficial if you have a favorable mortgage rate.
To find out how much you can borrow, you can use our mortgage calculator or consult with a broker to assess your financial situation. They will help you work out how much you can borrow based on your income, expenses, and the value of your new home.
If you’re moving to a cheaper house, you have several options. You can either port your existing mortgage, which may save you money, or consider getting a new mortgage deal that reflects the lower price of your new home.
To get a decision in principle, you need to apply with a lender who will assess your financial status and creditworthiness. This is a preliminary step that shows how much you could potentially borrow before you start house hunting.
Your options include transferring your existing mortgage to your new home, porting it to a new lender, or applying for a new mortgage. It’s important to compare mortgage deals to find the best option for your circumstances.