Moving Home
Moving home mortgages for your next property
Upsizing, downsizing or moving across the country, we run the numbers on porting against a full switch and tell you honestly which works out better.
- Port vs switch compared
- 90+ lenders searched
- Free review
- No upfront fees
Equity calculator
How your equity affects your next mortgage
The equity in your current home becomes the deposit on your next one. Move the sliders to see what mortgage you'd need and your loan-to-value.
Usable equity, before costs
£240,000
New mortgage you'd need
£360,000
Loan-to-value
60%
The lower your loan-to-value, the wider your choice of rates. Stamp duty and moving costs come out of your equity too.
The detail
Porting isn't always the right answer
Porting sounds simple: take your current deal to the new property. In practice your lender will reassess your affordability and revalue the property, and any extra borrowing is charged at the lender's current rate, not your original deal rate.
If you're downsizing you may have to repay part of your mortgage, which could trigger early repayment charges. We compare porting against a full switch and tell you which saves more over your new term.
Sell first or buy first?
Selling first
- You know exactly how much you have to spend
- No risk of owning two properties at once
- May need temporary accommodation between sale and purchase
- Stronger buying position with no chain above you
Buying first
- Move directly from old home to new
- More time to find the right property
- May temporarily own two properties
- Initial stamp duty surcharge, recoverable if you sell within 3 years
Bridging loans
If you need to complete before your sale goes through, a bridging loan can fill the gap. They're short-term, relatively expensive and should always be a last resort. We can introduce you to specialist bridging lenders, and we'll always check whether you actually need one.
Stamp duty for home movers
| Property value | Rate |
|---|---|
| Up to £125,000 | 0% |
| £125,001 to £250,000 | 2% |
| £250,001 to £925,000 | 5% |
| £925,001 to £1,500,000 | 10% |
| Above £1,500,000 | 12% |
A £450,000 home means £12,500 in stamp duty. A £600,000 home means £20,000. Try any price on our stamp duty calculator.
Watch out for early repayment charges
If you're still in a fixed-rate period and want to switch rather than port, your current lender will likely charge an early repayment charge, typically 1% to 5% of your outstanding balance. On a £300,000 mortgage at a 2% charge, that's £6,000.
That may or may not be offset by the saving from a better rate, so we work out the break-even point before recommending you pay it.
Why Home Me
How we help
Port your existing mortgage
Take your current deal with you and potentially avoid early repayment charges. Your lender will still reassess whether you can afford it.
Take out a new mortgage
Start fresh with the whole market, 90+ lenders and potentially better rates. More paperwork, but often significantly better value.
Top up what you have
Port your mortgage and borrow extra on top. Useful if you're upsizing and need to bridge the gap to the new price.
Your mortgage journey
From first call to completion.
Whether you're buying your first home, remortgaging or navigating a complex income, we find the right deal from 90+ lenders.
We manage lenders, solicitors and estate agents on your behalf so nothing falls through the cracks. You'll always speak to a named adviser, never a call centre.
Book a free consultation
- 1
Free consultation
We go through your income, deposit, credit history and what you're looking for, then tell you exactly where you stand.
- 2
We search the market
We compare deals from 90+ lenders, including exclusive rates, and recommend the mortgage that genuinely fits your situation.
- 3
We handle everything
We manage the application, chase solicitors and keep everything on track through to exchange and completion.
- 4
You complete with confidence
Your mortgage completes, you get your keys, and we stay in touch for when your deal is up for renewal.
FAQs
Moving Home questions
Can I keep my current interest rate when I move?
If you port your mortgage, yes, you take the same rate to the new property. However, your lender will reassess your affordability and revalue the property. If you're upsizing, any additional borrowing is charged at your lender's current rates, not your existing rate.
What does porting a mortgage mean?
Porting means transferring your existing mortgage deal to your new property. You keep the same interest rate and terms, potentially avoiding early repayment charges. Not all mortgages are portable, check your mortgage offer or speak to us and we'll confirm.
Should I sell my house before buying?
Selling first gives you certainty on your budget and makes you a chain-free buyer, which can strengthen your offer. Buying first means you won't need temporary accommodation, but you may briefly own two properties and pay the stamp duty surcharge (which you can reclaim if you sell your old home within three years).
What is a bridging loan and do I need one?
A bridging loan is a short-term loan that covers the gap if you need to complete your purchase before your sale goes through. They're relatively expensive and should be a last resort. We'll always explore whether good mortgage structuring can avoid the need for one.
What are early repayment charges and when do they apply?
ERCs are charges your current lender imposes if you pay off your mortgage early, typically 1 to 5% of the outstanding balance. They apply if you're still within a fixed-rate period. If you port your mortgage rather than switching, ERCs usually don't apply. We'll calculate the exact ERC position before recommending any course of action.
How much stamp duty will I pay when moving?
Stamp duty for home movers is 0% up to £125,000, 2% up to £250,000, then 5% up to £925,000, then 10% up to £1.5M, and 12% above. On a £450,000 property that's £12,500. Use our stamp duty calculator for your exact figure.
Can I increase my mortgage when moving?
Yes. If you're upsizing, you can borrow more, either by topping up a ported mortgage with your current lender, or by taking a larger new mortgage with a different lender. How much you can borrow depends on your income, outgoings, and the new property value.
Can I get a moving home mortgage if I'm self-employed?
Absolutely. Self-employed mortgage applications for movers follow the same process as for first-time buyers, it's the income assessment that differs. We work with lenders who assess self-employed income properly and won't simply look at your PAYE salary.
Ready to find your perfect mortgage?
Ready to start, or just weighing it up? A named adviser will talk it through. No pressure, no jargon, no obligation.
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