New Mortgage

simon.cotton13@tesco.net

PLEASE HELP!currently have a mortgage with the woolwich which i want too port.took it out when 100%self employed,i now am employed but also still winding down self employment part.have 1 default and acouple of late payments.will i be able to port the mortgage.many thanks.

cattie

It's not wise to have your email address listed on this or any other forum. You'll be inundnated by spammers & scammers.

Best choose just a simple user name.

HGLTsuperstar

Check your mortgage T&C re portability, do you also want to borrow more? How long is left on the fixed rate?

Ian_W

Hi simon,
Porting is using your existing mortgage when you move house. If that's what you mean, as stated above, you need to check with your existing lender. Many mortgages are portable these days but I don't think all are. In addition if you're moving and need extra funds these may not be available at the same rate as the mortgage you have now.

If you mean you want to move your mortgage to another lender, that's remortgaging not porting. Martin's written a good remortgage guide on the mortgage section of the site which you should read. You will need to post other details like prop value, amount you want to borrow, earnings etc. Having defaults and missed payments might cause probs with another lender so you should check what other products Woolwich may have you could switch to.

HTH and DO change your user name.