Moving Home
Do you have a growing family? Are you changing your job? Or – do you just want to move home, and need to look at a slightly bigger mortgage? Don’t limit yourself to your current lender.
Let’s arrange that first meeting and see how we can help!
Let’s find the right mortgage for you
Moving house, want a new mortgage? Need a little more room for the family? Moving into the York area? When you’re thinking about the cost of moving … it helps a lot, to have the best help on your team.
It’s good to have a mortgage broker, in York, just like MAPIO Financial, checking out all the options. You might keep your current deal and add to it, or get a new mortgage. Either way we can help.
Helping you, every step of the way
We can research hundreds of current deals for you, from our panel of over 70+ lenders.
You’ll need to review your income and outgoings, but we can help you – we can look at your affordability together. We’ll also work through the paperwork with you, and make sure you’re in the best possible place to send in the application.
Let’s get you moving home!
Let’s talk to the right lenders for you
How much money can you borrow for a mortgage? You might have a figure in mind already. For specific improvements to your home perhaps, or – after you’ve carefully reviewed how much you can afford – for using in a different way.
However, just like last time, you’ll need to get an agreement from the lender on how much you can afford and what the new repayments will be.
Give us a call and arrange a full appointment:
- We can do a thorough financial review, to make sure you get the best possible offer.
- We can also help you to handle paperwork, which always makes things less stressful.
Let’s get together!
Drop in. Let’s talk about how life’s changing, where you’re moving to and what kind of mortgage you need. Our team has the contacts to make sure your next move is a great move…
PS: If you’re thinking about estate agents, then our sister company Your Move Anscombs* can help!
* Please be aware that by clicking into the link you are leaving the MAPIO Financial website. Neither MAPIO Financial Limited or PRIMIS are responsible for the accuracy of the information contained within the linked site.
Credit checks for mortgages? Yes.
We’re here to help you. Before we get started, you can check out the Experian* website to find out your up to date credit history. This will show you what a lender will see. If you’ve had issues with credit in the past, and it’s not looking too healthy at the moment – don’t worry.
We work with many lenders who will offer you a mortgage. And we can help you to get on the property ladder – just as we’ve helped lots of other people in the same situation.
Moving Home FAQs
Can I take my current mortgage to a new property?
Many mortgages are portable, which means you may be able to transfer your existing mortgage deal from your current property to a new one when you move home.
However, portability is not guaranteed and will depend on your lender’s criteria and the terms of your current mortgage. Even if your mortgage is portable, your lender will usually carry out a new affordability and credit assessment based on your current financial circumstances and the property you intend to purchase.
If you need to borrow additional funds for the new property, this may be arranged as a separate loan or “top-up” mortgage, potentially on a different interest rate.
A mortgage broker can review your existing mortgage terms, explain your options, and help you decide whether porting your current deal or arranging a completely new mortgage is likely to be the most suitable and cost-effective option.
Do I need a new mortgage when moving house?
Not necessarily. If your existing mortgage is portable, you may be able to transfer it to your new property without replacing the entire mortgage.
However, moving home often involves changes such as borrowing more money, adjusting the mortgage term, changing repayment types, or updating the names on the application. In these situations, you may need a new mortgage product or additional borrowing alongside your existing deal.
Your lender will also reassess affordability based on your current income, outgoings, credit profile, and the value of the new property, even if you stay with the same lender.
Speaking to a mortgage broker before you begin house hunting can help you understand how much you may be able to borrow, whether your current mortgage can be ported, and what mortgage options are available based on your circumstances.
How much does it cost to move house?
The cost of moving home can vary significantly depending on the value of the properties involved and the complexity of the transaction.
Common costs may include estate agent fees for selling your current property, solicitor or conveyancing fees for both the sale and purchase, stamp duty on the new property, mortgage arrangement fees, broker fees, valuation or survey costs, and removal expenses.
If you are leaving your current mortgage deal early, you may also need to consider potential early repayment charges and any administrative fees charged by your lender.
Because moving costs can add up quickly, it is important to budget carefully before committing to a purchase. A mortgage broker can help you understand the likely costs involved and assess how they may affect your overall affordability.
When should I speak to a mortgage broker about moving home?
Ideally, you should speak to a mortgage broker before putting your property on the market or starting to view new homes.
An early conversation can help you understand how much you may be able to borrow, whether your current mortgage can be ported, what your monthly payments could look like, and the likely costs involved in moving.
Having a clear understanding of your budget and mortgage options before making offers can strengthen your position with estate agents and sellers, while also helping to avoid delays or unexpected issues later in the process.
A broker can also identify any potential affordability concerns early on and help you prepare the documents needed for a smoother mortgage application.
What happens to my mortgage if I sell my house?
When you sell your property, your existing mortgage is usually repaid from the proceeds of the sale on completion.
If there is money remaining after repaying the mortgage and any associated fees, the balance is released to you and can typically be used towards your next property purchase.
If you are still within a fixed rate, discount, or other introductory mortgage period, your lender may charge an early repayment charge for ending the mortgage agreement early. These charges can sometimes be significant, depending on the terms of your mortgage.
In some cases, porting your existing mortgage to a new property may allow you to avoid or reduce these charges, although lender criteria and affordability checks will still apply.
A mortgage broker can review your current mortgage terms, explain any potential costs involved in moving, and help you plan the most suitable route forward based on your circumstances.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Ready to Move Home?
Contact us to book your meeting to get started.
Or call us to book an appointment on: 01904 235000.