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Can I port a SVR mortgage? (RBS)
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# 1
RedfordML
Old 27-07-2012, 1:01 PM
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Default Can I port a SVR mortgage? (RBS)

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?
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# 2
harvey115
Old 27-07-2012, 1:11 PM
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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!
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# 3
Dave Ham
Old 27-07-2012, 1:21 PM
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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
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# 4
RedfordML
Old 28-07-2012, 6:20 PM
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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!!!
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# 5
Thrugelmir
Old 28-07-2012, 6:25 PM
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Quote:
Originally Posted by RedfordML View Post
Spoke to RBS and they have stated it can be ported on a SVR!
Subject to you meeting current underwriting criteria when you apply for the new mortgage. This is were borrowers come unstuck.
"The man who wishes to move a mountain begins by carrying away the small stones first."
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