You might be able to avoid an early repayment charge by taking your mortgage with you.
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Porting a mortgage
Moving Home? Take your mortgage deal with you
To apply you must be 18+ and resident in the Channel Islands, Isle of Man or Gibraltar.
Your home or property may be repossessed if you do not keep up repayments on your mortgage.
Porting is taking your current mortgage deal with you to a new home
To port your mortgage you’ll need an appointment with one of our mortgage advisers. They will complete the application with you and help you through the process.
Porting
Taking your mortgage with you might be the right choice as:
- It allows you to keep your current interest rate and features which may be lower than the new rates currently available.
- There may not be an Early Repayment Charge (ERC) to pay as you're not ending your current deal early.
- You can still reduce or increase the amount of the mortgage. Any additional borrowing would be on current rates available and will involve affordability checks.
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Start a new mortgage
A new mortgage might be the right choice for you if:
- Your mortgage rate is higher than those currently available and you're happy to pay the Early Repayment Change (ERC) to change to a new rate.
- You're on Standard Variable Rate (SVR) so there would be no Early Repayment Charge.
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What to check and know before applying
Here are a couple of quick checks and things you might want to know before you contact our mortgage team.
Need help? Speak to our mortgage team
If you'd like more information or want to discuss your mortgage options, contact us.
Please be aware that we can't give you direct advice about your mortgage. If you require advice, consider using a broker or seeking independent advice.