Moving House: Port existing mortgage or look for a new product?

reverend

Hello Folks,

I am hoping for some initial advice on whether I should 'port' my existing mortgage to a new property, or pay early termination charges and get a new one.

I currently have £92,746 left to pay on a fixed rate (5.94% until Jan 2012) for my Shared Ownership flat.
I am selling my share for £112,000.
I am buying a share in a new flat for £92,250
In order to 'port' my existing mortgage, Abbey want a 15% deposit (£13,837) on the new flat, which I can take from my profit (£19,254).
I have to pay a small 'early repayment' charge of approximately £200 and a valuation fee of about £200

If I was to quit this mortage, my early repayment charge would be about £2,700.

I have done a bit of research and Abbey seem to offer a slightly better deal than mine (YEAR FIXED HOMEBUYER PLUS Code : 764) which carries a slightly better rate of £5.79 with a £995 booking fee.

I am trying to decide whether I should stick with what I have or move to a different product or lender, and any advice would be appreciated. The key factor for me is that we have no savings, so we have to be able to cover a deposit from our profit, which means that we can only afford a 15% deposit for the new flat.

Thanks!