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Can I port a SVR mortgage? (RBS)
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RedfordML
Posts: 907 Forumite
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?
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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Comments
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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!0 -
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 luckI 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.0 -
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!!!0 -
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