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Can I port a SVR mortgage? (RBS)
27-07-2012, 12:01 PM
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MoneySaving Stalwart 
Join Date: Oct 2010
Posts: 426
Thanked 274 Times in 93 Posts
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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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27-07-2012, 12:11 PM
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MoneySaving Stalwart
Join Date: Aug 2011
Posts: 665
Thanked 219 Times in 186 Posts
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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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27-07-2012, 12:21 PM
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Fantastically Fervent MoneySaving Super Fan 
Join Date: Oct 2009
Location: London & Essex
Posts: 4,105
Thanked 2,006 Times in 1,619 Posts
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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
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.
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28-07-2012, 5:20 PM
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MoneySaving Stalwart
Join Date: Oct 2010
Posts: 426
Thanked 274 Times in 93 Posts
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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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28-07-2012, 5:25 PM
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Deliciously Dedicated Diehard MoneySaving Devotee 
Join Date: Apr 2005
Posts: 26,233
Thanked 26,536 Times in 13,703 Posts
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Quote:
Originally Posted by RedfordML
Spoke to RBS and they have stated it can be ported on a SVR!
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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 scepticism, mature on optimism and die on euphoria.” -
The four most dangerous words in investing are 'This time it's different'.
John Templeton
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