When you sell your property or move house, you will usually have various different mortgage options available. 

Many mortgages allow you to ‘port’ them to a new property, so you may have the option to move your existing mortgage across to your next property. This will essentially be like applying for a new mortgage as you will be credit checked again and have to meet the same criteria when you obtained your original mortgage.  It remains for the lender to decide if they are happy to allow you to transfer your current deal over to your new property.  Bear in mind that there may be fees to pay for moving your mortgage.  

Prior to considering a move, it would be sensible to check over the lender's criteria and ensure that you meet their income and expenditure benchmarks before making any application.  This is something we can help you with.

If you require an increased mortgage to purchase a new home, you may decide to move your existing deal across and then ask your lender if you are able to borrow the additional funds.  Any extra borrowing may be at a different rate. 

If you are not tied in to your current mortgage deal and no early repayment charges to pay if you leave it, you could apply with a different lender for the amount you need for your new property. 

If there will be a gap between the sale of your home and the purchase of your new property, some people can apply for what is referred to as a ‘bridging loan’ to bridge this gap. This type of loan means you can move into your new property before you have solved your home. However, these should only be considered as a last resort as they are very expensive.