Moving home

Can I take my existing mortgage with me?  

If you have a mortgage on your existing property, you may be able to take the mortgage with you, this is called porting. The first step is to look out your old mortgage documents to check if your mortgage is portable. You could also check with your bank or mortgage broker. Some reasons people port their mortgage is to avoid early repayment charges and to keep hold of a competitive interest rate.   When porting your mortgage, you will still need to apply to your existing lender. You may want to increase or decrease you mortgage loan amount. Our mortgage broker based in Altrincham can complete your porting mortgage application and give you advice on your options. We will take a look at your current mortgage and assess whether it is in your best interest to change to a new mortgage agreement or transfer your current one to your new property.  

Moving home mortgage  

Moving home mortgages can be for people who are stepping up the property ladder and looking for a bigger home or downsizing. We see many people moving home in Altrincham to secure a larger family home or to get in a catchment area for school. Some mortgages are ‘portable’, which means you can take your existing mortgage to your new home.  Rather than porting your mortgage you may want to take out a new mortgage. There can be many reasons for this; your bank has declined your mortgage application, there are better products available, or you are no longer tied into your existing mortgage.  

Moving home mortgage where do I start? 

 Finding out how much you can borrow is the first step in identifying the mortgage deal for your circumstances. Once you know what your repayments will be, you can start your house hunt in earnest, especially if you’re hoping to buy a larger and more expensive property. Estate agents will want an "agreement in principle", before accepting an offer on any property. An agreement in principle is an indication from the lender of how much they could be willing to lend.  Get in touch, we can arrange this for you, then you are free to start searching for your dream home.      

What is a mortgage offer?  

A mortgage offer is confirmation from the lender that it will provide you with the mortgage. This will only be issued once the application process has been completed.  How long do mortgage offers last?  Most mortgage offers will last between 3-6 months, but this can vary from lender to lender. In exceptional circumstances offers can be extended at the lender’s discretion for example new build properties where build completion runs over. Speak to a professional our Altrincham mortgage adviser can give free advice on moving home mortgages. 

Can I get a 95% moving home mortgage I am not a first-time buyer?   

Whether you’re a first-time buyer or an existing homeowner looking to move, you can apply with a minimum deposit of 5% of the property purchase price. There is criteria you will need to meet. Get in touch to check if you qualify for a 95% mortgage or you can read through the exclusions and eligibility criteria here.    

Can I get a home mover mortgage if I am self employed?  

When you apply for a mortgage, most lenders will consider you to be self-employed if you have more than a 20% share of the business from which you get your main income. At Greenwood mortgages we have dealt with many business owners wanting to secure a self employed mortgage in Altrincham and throughout the UK.  Most lenders will expect a self-employed mortgage applicant to have at least 2 years of accounts/ tax calculations. Your accounts should be up to date and prepared by a certified or chartered accountant, but don’t panic if you’ve been trading for less than 2 years; our mortgage adviser can help you find lenders who can help.  

 How do I apply for a moving home mortgage?  

Greenwood Mortgages offer a fees free mortgage advice service. Like all brokers we are paid a commission by the lender we place you with we just choose not to charge a broker fee on top. We offer a dedicated mortgage advice service; your local broker Nick Bone will look after your application all the way to completion. Get in touch today to find out how much you can borrow.