Moving Home Mortgage

SusieWoozy_2

Hello

I am looking to put my current house on the market and Halifax have advised I can port my current mortgage (which I fully understand is about interest rates not transferring the debt to another property.)

I brought new build the last time so we got a DIP once we had found the property.

Can you get a DIP without a specific property in mind? will it tell me the level of mortgage they are happy to provide?

Is it at all likely the Halifax would refuse me a new mortgage borrowing less and my credit commitments are £200 less than they were first time round?

Thrugelmir

As you quite rightly say the port relates to the existing terms and conditions of your existing mortgage product.

When you apply for the new mortgage. Your application will need to meet the current underwriting criteria. Much has changed since 2008. With lenders even now continuing to tighten down.

So a general answer to your question is yes they could. The caveat being is that much depends on your personal circumstances. Equally you may face no issues at all.

A DIP is not a guarantee of a mortgage offer.

SusieWoozy_2

I only brought 16 months ago so am hoping nothing too drastic will stop the borrowing especially as it will be less than my current mortgage and my credit commitments are less than they were first time round.

Is it wise to get this DIP before putting house on the market so I know where I stand? I know it's not a definite promise due to previous experiences but it'll be a good idea at least?