Taking my good 'revert to' SVR with me when i move house?

njoptic

Hi, I'm lucky enough to have reverted to a standard variable rate of 2.5% with the Cheshire after coming to the end of a two-year fixed rate, but am now thinking about moving house. Does anybody know what my chances would be of taking my current mortgage with me and keeping the favorable rate for now? Is such a thing possible? I don't know whether I'd need to increase the loan value when I move but it is possible.
Thanks in advance for any advice.

_Andy_

If the mortgage is portable then yes, but it will be treated as a new application.
Call them for clarification though rather than taking my word for it.

Hopejack

It is my understanding that you can only revert to the SVR if you are coming to the end of a deal with them. Once you change the terms, i.e. move house and ask for more money then you cannot stay on the SVR. That at least, is what was explained to myself recently on applying for a new mortgage.

beecher2

I'm sure someone on another thread posted that they were able to port their SVR - best to phone your lender and ask. Any additional borrowing would be at new rates, and present lending criteria - LTV, salary multiple - would be looked at if they do allow it.

Puddlesplasher

Yes, you can definitely port SVR with the Cheshire. As previous poster says any additional borrowing would be on their current range of products though and not SVR.