As we’re all aware, the Homemover market is currently more buoyant than the First Time Buyer market and this means that most prospective purchasers likely already have a mortgage in place on their current home.
Most lenders allow their mortgage customers to port their existing interest rate to a new property to avoid paying a redemption fee, however, it is important to point out that you must still fit standard criteria to be able to do so.
If you wish to port an existing mortgage, it is imperative that you are given New Build specific mortgage advice to ensure that your current provider’s offer will be valid for completion and that the property and your updated personal circumstances meet the lender’s criteria.
Our Advisers are able to guide you through this minefield, so speak to us early and we will get the ball rolling.
