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Credit checked to port a mortgage?

Armst2k
Armst2k Posts: 21 Forumite
in Mortgages & endowments
Does anyone know if you are credit checked to port a mortgage? Been with Halifax for 10 years. Due to a default on credit report they have declined.
But are we credit checked by Halifax to keep mortgage with them only changing address of property?

Comments

  • amnblog
    amnblog Posts: 12,771 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Porting means new underwriting and credit checks.


    All porting means is that you can potentially take the product with you if successfully reassessed for lending.
    I 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.
  • kingstreet
    kingstreet Posts: 39,352 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yep, amn is correct.

    You have to apply for a new mortgage and meet the lender's current requirements before you can port the rate from the old mortgage to the new one.

    You cannot transfer a mortgage from one property to another.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, 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. Please do not send PMs asking for one-to-one-advice, or representation.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Armst2k wrote: »
    But are we credit checked by Halifax to keep mortgage with them only changing address of property?

    You are not changing addresses. You are buying a new property a fundamental difference! New property, new mortgage application. Full checks.
This discussion has been closed.
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