Early Repayment or..?

mt1920

Hi all,
We are currently nearly 2 years into our part interest/repayment mortgage on our home. Interest only mortgage is roughly £300k / repayment £60k.
We are currently making £750 p/month in mortgage payments.
We had a change of employment circumstance (10 months ago) and our income has fallen approximately 50%. We are now solely self employed / income from investments. Our income is moderate (approximately £60,000 before tax) and is about to rise somewhat as we are nearing completion on a holiday let that will pay in the region of £30,000 before tax.
Due to our change in circumstance, we are interested in moving out of our current property and buying another, similarly or lower priced property with more income generating potential (annexe / home business etc.)
However, we are subject to an early repayment penalty of 5% on our current mortgage.
We are stuck on a few things, really. 
- Are we likely to be given the same mortgage deal based on our current situation? We are paying school fees to the tune of £1900 per month. These payments will drop to £800 from September 2021. Our other outgoings total approximately £1800. We are easily able to absorb the mortgage repayments at present and have never missed a repayment.
- Can we port our mortgage to avoid repayment charges, even if the mortgage is for a lesser amount? Or would we have to pay back 5% on whatever the difference is?
- We were considering buying outright with our savings, then eventually selling the mortgaged property and replenishing our funds. Could we then port the mortgage into a buy to let  to avoid repayment charges?
Bit complicated, possibly stupid but any advice greatly appreciated!
Thanks

Thrugelmir

In principle mortgages are generally portable , i.e. transferable to a new property subject to lenders underwriting criteria. 

A lenders assessment of affordability is going to differ to yours I suspect. Not least that lenders have to factor in a potential increase in interest rates. 

Lenders can only process your application on the facts as they stand today. Not a myriad of future unquantifiable unknowns. 
Self employment income will most certainly need a track record of earnings. 

Did you plan your move to self employment before you applied for your previous mortgage. People rarely jump into such things without considerable planning.