Porting a Mortgage

Microhead

Hi there
Hope everyone is well and looking after each other!!
I am about to re-mortgage to a new deal, to start from July 2020.
I am currently looking at a 2 or 5 year fixed rate deal, however, I am also possibly looking to move house at some point in that time as well. I wanted to find out if there are any costs involved in porting a mortgage from property to another? I don't plan to borrow any more money, when the time comes to move.
Thanks
M

Slayerx

All depends on the lender, normal fee's will apply on the new property such as valuation etc unless they have deals with benefits as part of the new deal.

Carl2510

Some lenders will let you port to avoid any ERC charges but you will probably only have a limited amount of time ie 6 months to port to a new house if you sell and don’t have one ready to move into they will charge you the ERC but do a refund if you get a new house within 6 months.