Cashback Remortgages · Property checks
Moving Home and Borrowing More
Moving to a more expensive home usually means borrowing more. You can often port your existing deal and add a top-up, or arrange a new mortgage for the whole amount.
Two routes
Porting keeps your current rate on the existing balance with a separate product for the extra borrowing; remortgaging replaces the whole mortgage on a new deal. Each is reassessed for affordability and the new property.
Which is cheaper depends on your current rate, any early repayment charge and the new deals available.
Planning the move
Factor in the property-tax on the new purchase and the costs of both mortgages during any overlap. Advice helps compare porting against a full remortgage.
Sources and further reading
General mortgage information, not a personal recommendation. Lender criteria and scheme rules can change. Ask an adviser about your circumstances and a solicitor or tax adviser about legal or tax questions. Your home may be repossessed if you do not keep up repayments on your mortgage. Most buy-to-let mortgages are not regulated by the FCA.
Discuss the next step for your mortgage
Understand your options before you make a decision.