Home mover mortgage advice
Moving home means adjusting your mortgage, one way or another. Whether you port or take out a new deal, here’s the latest you should know about moving with your mortgage.
Key takeaways:
Porting your mortgage isn’t guaranteed – so prepare for another application.
If your new home is more expensive, the extra borrowing may be at a different interest rate.
Check your early repayment charges if you switch lenders instead of porting.
More equity in your property typically opens up access to lower interest rates.
If you don’t buy and sell on the same day, you may need a bridging loan or temporary accommodation, which can add up.
How your mortgage matters when you move home
Your existing mortgage plays a large role in how smoothly you can move home. When you already have a mortgage, you need to work with your lender to agree to the move.
They’ll need to reassess the situation, check your affordability, and confirm your current deal can move with you (called ‘porting’). At this point too, you may want to borrow more money by increasing your loan if you have your eyes set on a more expensive property.
Taking your mortgage with you
Porting your mortgage – taking it with you when you move – is an option for many mortgages. Firstly, you will need to make sure the mortgage is portable (your mortgage broker can help with this).
Throughout 2025 and so far in 2026, we see around 56% of Mojo’s home mover customers stick with a product transfer from the same lender, as opposed to taking out a new mortgage with a different lender.*
It’s always important to talk it through with your mortgage broker to understand your options and what’s the right move for you. They can discuss the benefits of porting and what to expect if you decide to switch deals to a new lender.
Porting vs. starting fresh
Most mortgages are "portable," meaning you can move your current interest rate to the new property. This is a brand-new application, so keep in contact with your mortgage broker.
Porting is ideal if your current rate is lower than today’s market average. You keep your deal but still undergo credit and affordability checks.
A new mortgage could be more favourable if your current deal is ending soon or if the ERCs are low and you have the cash to exit early. This gives you access to a wider range of mortgage deals, rather than carrying on with your current one.
If you need to port but are sizing up and need to borrow more, the extra amount is usually taken as a separate loan at current market rates. This leaves you a mortgage in two “parts”, with different rates with a different term length.
Porting and lenders
Almost all major UK banks and building societies (e.g., Nationwide, Santander, Barclays, HSBC) include portability as a standard feature in their fixed and tracker rate contracts.
The small percentage of mortgages that are not portable typically come from "niche" or "specialist" lenders who handle complex credit, self-builds, or specific short-term financing
Need to be sure? Check the fine print.
What fees will I pay when moving home?
Moving home with a mortgage includes more than just the price of the new property. You’ll need to account for several fees – here are the main costs (and average industry fees) to be aware of:
Legal fees – typically around £800 - £1,500, depending on the property and conveyancer.
Valuation fees – while many lenders offer free valuation, charges may apply, and can range from £150 - £1,500.
Mortgage arrangement fees – usually between £599 - £1,999, though some lenders offer fee-free deals at a higher rate.
Early repayment charges (ERCs) – if you’re in a fixed-rate deal or certain tracker products, leaving early can trigger a charge, which is usually between 1% - 5% of the remaining mortgage balance.
Stamp duty land tax (SDLT) – based on the property price and your circumstances.
Survey costs – such as homebuyer reports and structural surveys.
Removals – often between £500 - £1,500 depending on the service, distance, and volume.
This information and any figures shown are illustrative industry estimates based on publicly available data as at May 2026, are subject to change, and are for guidance only. This content does not constitute financial or legal advice. Costs and circumstances vary - always speak to your mortgage broker, solicitor, lender, and other relevant professionals before making any decisions.
Moving home with a mortgage – what can go wrong?
Failed porting
Many mortgage deals are portable (transferable), which means if you're moving home, you can take your mortgage deal with you to your new property and keep the interest rate.
If you plan to port (transfer) your mortgage, you should first make sure you can, as you’ll need to reapply and pass the lender’s current affordability checks. While most mortgages are portable, some are not. And if your income has dropped or lending criteria is stricter, the lender may refuse.
If you’re breaking a fixed-rate deal to move and cannot port it, you could face hefty ERCs, which can run into thousands of pounds. Check your paperwork for the exact amount you may be liable to pay.
The home is in negative equity
If your current home’s value has fallen below your mortgage balance, you may be in negative equity. That means your mortgage balance is higher than your home’s value. It can complicate a home move as you may not be able to port the mortgage, with lenders declining a new application.
To get out of this, you may need to contribute additional funds to clear the gap, but it could mean staying put until the market improves or you’re able to switch to a more flexible lender. A mortgage broker can help you assess your options.
You have a lower borrowing limit
If you want to move to a more expensive home, you may need to borrow more. And if your affordability hasn’t improved or the market is tougher, you may not be able to borrow as much as you did before. That means working within your budget, and searching for properties in a lower value range.
You’re not ready for the hidden costs
Moving in peak season such as summer can mean higher demand for removals and solicitors, which may affect costs and availability.
It’s easy to underestimate the true cost of moving. Beyond the deposit, you must factor in solicitor fees, stamp duty, valuation fees, and removal costs.
You lose your job before you’re about to complete
If you’ve exchanged on a house and are due to complete, but then the worst happens – you lose your job. As soon as you know, you should inform your mortgage broker and lender. Failing to notify either of them about a significant change in circumstances is a serious matter and could put your mortgage offer at risk, which in some cases may have legal consequences.
Potentially, the lender may pause the application process if you don’t meet the mortgage requirements anymore. You can look into adding a co-borrower with income or securing another job, and sending the offer letter to the lender (who may accept it).
This situation can be stressful. It can delay your completion date, or lead the lender to pull your mortgage offer. It’s a good idea to talk to your mortgage lender early on to help understand your options.
Expert mortgage broker advice
If you have questions about getting a mortgage as a home mover or need expert mortgage broker advice, the team at Mojo can help. We’ve helped thousands of people with their mortgage with free, honest advice – here’s how we make our money.
Sources:
* Data shown is from Mojo Mortgages’ own customer records recording the monthly percentage of home mover customers who did a product transfer to the same lender in their remortgage compared to customers remortgaging to a new mortgage with a different lender, from 1 January 2025 to 18 May 2026.