Ported Mortgage

LauraB12345

Hi Martin, we are coming to the end of our 5 year fixed mortgage. We have a ported mortgage that runs alongside (another 5 year fixed) as both won’t be coming to an end together what would you suggest we do? The redemption fee doesn’t warrant ending early. I have looked online for mortgage rates for the one mortgage (due to end this year) but unsure if I am entering the details correctly as it looks like we have my LTV than we do (as have the ported mortgage too) if that makes any sense? Would it be best to see a mortgage advisor? Thanks for all your help. 

penners324

Only option is to take a mortgage transfer offer from your current provider  A remortgage will incur Early Repayment Charges on the non expired portion.

Thrugelmir

You'll need to redeem both existing mortgages if you remortgage to a new lender. 

amnblog

Love the idea that 'Martin' is online answering posts.

LauraB12345

Thankyou for your replies.. more wishful thinking than anything else @amnblog

TN1984

What's the fixed term remaining on the ported deal? Might be an idea to look at a fixed deal as close to the remaining term of the ported mortgage as possible so maybe you have the remortgage option open to you next time. It is going to be difficult to change lender whilst you have two different deals continually expiring at different times. Also depends on the remaining balance and how much longer left to run though, as if you're getting to the end of the mortgage itself, it might not matter so much.