Can I take my mortgage with me? Guide

No_place_like_gnome

Hiya

Just a quick query regarding this. I'm with Nationwide (but not on a fixed deal - this expired several years ago). I've been told that I can't port this mortgage, are you saying that this is actually possible?

Thanks

Thrugelmir

No_place_like_gnome wrote: »

Hiya

Just a quick query regarding this. I'm with Nationwide (but not on a fixed deal - this expired several years ago). I've been told that I can't port this mortgage, are you saying that this is actually possible?

Thanks

Porting is at the total discretion of the lender. Best to start a new thread for a fuller discussion.

No_place_like_gnome

Thanks for the quick reply.

Sorry, am new on here and was just responding the comments made previously on this thread which referred to Nationwide.

kingstreet

If you are on BMR (base + 2%) it can be ported, yes.

You apply for a new mortgage and the amount you currently owe is taken on ported BMR, with any increased borrowing on one of the current deals based on your LTV.

dannyoreilly

Hi
I'm looking to move my family to Northern Ireland from Manchester in the summer and wondered if I can take my mortgage with me so I wouldn't have to reapply? Would appreciate any advice or help from anyone

amnblog

You have to reapply if you move home.

Porting is about an option to keep an existing product, not a right to a mortgage.

kingstreet

No. There is no way to transfer a mortgage from one property to another.

You would have to apply for a new mortgage with that lender and if granted, you may be able to port the rate from the old mortgage to the new one.

You would need to be with a lender which lends in NI and some don't.