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  • FIRST POST
    • RedfordML
    • By RedfordML 27th Jul 12, 12:01 PM
    • 672Posts
    • 375Thanks
    RedfordML
    Can I port a SVR mortgage? (RBS)
    • #1
    • 27th Jul 12, 12:01 PM
    Can I port a SVR mortgage? (RBS) 27th Jul 12 at 12:01 PM
    Basically, I have a mortgage due to run till October then it reverts to the cheaper SVR.

    I have looked at new mortages ava, and I (we) will be looking at a rise of around 1.19 between current and a potential new market.

    As we are on the market aiming to sell asap, port our current deal, what happens if we sell in say Oct, could we port a SVR rate?

    Anyone been able to do this?
Page 1
  • harvey115
    • #2
    • 27th Jul 12, 12:11 PM
    • #2
    • 27th Jul 12, 12:11 PM
    Usually you are allowed to port during the fixed/discounted period of the mortgage deal if allowed by the lender.

    Have not heard of porting during an SVR before, hopefully other board members will be able to comment on that. Sorry for not providing any help!
    • Dave Ham
    • By Dave Ham 27th Jul 12, 12:21 PM
    • 6,021 Posts
    • 2,841 Thanks
    Dave Ham
    • #3
    • 27th Jul 12, 12:21 PM
    • #3
    • 27th Jul 12, 12:21 PM
    Subject to meeting your lenders current criteria (as they treat it as a new application) then yes it is portable.

    People sometimes get confused that porting is in their terms and conditions and therefore a given, which it is not..

    Good luck
    I am a Mortgage Broker
    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it.
    This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • RedfordML
    • By RedfordML 28th Jul 12, 5:20 PM
    • 672 Posts
    • 375 Thanks
    RedfordML
    • #4
    • 28th Jul 12, 5:20 PM
    • #4
    • 28th Jul 12, 5:20 PM
    Good News!!

    Spoke to RBS and they have stated it can be ported on a SVR!

    The agent did however want to confirm this by speaking to the mortgage team further and I will be getting a call Monday, hopefully to confirm what I have been told today!!!
    • Thrugelmir
    • By Thrugelmir 28th Jul 12, 5:25 PM
    • 54,363 Posts
    • 47,174 Thanks
    Thrugelmir
    • #5
    • 28th Jul 12, 5:25 PM
    • #5
    • 28th Jul 12, 5:25 PM
    Spoke to RBS and they have stated it can be ported on a SVR!
    Originally posted by RedfordML
    Subject to you meeting current underwriting criteria when you apply for the new mortgage. This is were borrowers come unstuck.
    “ “Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” Sir John Marks Templeton
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