Non-Fee Charging
Pick up the keys to your new home
The thought of moving home can be both daunting and exciting. Can I afford it? How much can I borrow? Just a few of the questions we always get asked. Here at Denyer Hill, we will run through all different options available to you. Be that keeping hold of your current property, porting your mortgage to the new property and potentially borrowing more with your current lender if your income allows or simply selling and moving on. We will discuss these options with you so that you have a clear understanding of what you need to do to achieve your home move.
How does my mortgage work when I want to move home?
When moving home, you have a few options regarding your current mortgage. You can port your existing mortgage to the new property, which involves transferring your current mortgage terms and rates to your new home, subject to lender approval. Alternatively, you may choose to pay off your existing mortgage and apply for a new one. If you’re planning to rent out your current property, you must inform your lender and may need to switch to a buy-to-let mortgage. Always check with your mortgage broker to find the best option tailored to your needs.
What fees are involved with moving?
When moving home, several fees may apply. These can include:
- Estate Agent Fees: For selling your current home, typically a percentage of the sale price.
- Stamp Duty: A tax on purchasing a new property, with rates varying based on the property’s price.
- Legal Fees: Solicitor or conveyancer costs for handling the legal aspects of buying and selling property.
- Survey Costs: Fees for conducting property surveys to assess the condition of your new home.
- Removal Costs: Hiring a moving company to transport your belongings.
- Mortgage Fees: Potential charges for arranging a new mortgage or porting your existing one.
- Early Repayment Charges: Fees for paying off your current mortgage early, if applicable.
- On the legal fees: if you need help sourcing a solicitor, Denyer Hill can help provide a no obligation quote
- On the survey costs: if you need help sourcing a surveyor, Denyer Hill can help in providing a quote if you are contemplating arranging your own survey
Be sure to budget for these expenses and consult your mortgage broker for detailed advice on costs associated with your move.
What does porting my mortgage mean?
Porting your mortgage means transferring your existing mortgage deal, including its terms and interest rate, to a new property when you move. This process allows you to keep your current mortgage without incurring early repayment charges. However, porting is subject to lender approval and you may need to reapply and undergo affordability checks. If your new property is more expensive, you might need to borrow additional funds, which could be on different terms.
Contact Denyer Hill to speak with an adviser and understand the benefits and conditions of porting your mortgage.
Why choose Denyer Hill
Experience
Benefit from our 80 years of combined industry experience. Our team holds qualifications such as CeMAP and operates under FCA regulation, ensuring expertise in mortgage financing. With over 6000 mortgages secured, trust Denyer Hill to recommend the best option available for you.
Trust
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As non-fee charging advisers our payment is contingent upon securing a mortgage that aligns with your needs. With our whole-of-market approach, we sift through tens of thousands of options to find you the best available mortgage.
Our Promise
We promise to provide clarity, confidence and peace of mind throughout your homebuying journey. Trust our seasoned team to guide you through the mortgage maze with tailored solutions and unwavering support.
We promise to
– Act with integrity
– Act with due skill, care & diligence,
– Act in the best interest of our customer and to treat them fairly
