Porting a mortgage

Carl2510

Good evening,

I currently own my house with my brother. We are looking at selling soon, I was looking into some new builds, and wondered if I was to port my mortgage do I have to have it with him? As we are looking to go are separate ways and I will be getting the new house with my girlfriend. I know she will be looked into if she was going on the mortgage is it allowed with porting? Or is it a pain of a process.

Are we betting off just letting my house sell and start again together without my brother.

Thanks.

[Deleted User]

You can port the mortgage with a different 2nd person with most lenders as far as I am aware.

Your last statement doesn't make sense to me as you cant port without selling the house anyway

Carl2510

My last statement I basically meant do I just forget the porting procedure and just get a mortgage with whatever comes up with the mortgage broker. Or like you said you can’t see a problem try and actually port it. Would definitely save me on early termination fees.

[Deleted User]

If everything else stacks up then porting is an option. Some people choose not to port for various reasons. Maybe new rates are better, maybe they don't want 2 products within the mortgage expiring at 2 different times