Porting Mortgage to Spouse’s property

MattTheVet

Hi all,

We recently got married and both of us have a home in our own name which we purchased separately before we met. 

We would like to sell my home and port my very favourable Barclays mortgage (1.47% for a further 6y) to her property and be joint owners, both on the mortgage. 

Barclays have said this isn’t possible but I get the feeling it’s a ‘computer says no’ response as nobody at Barclays has given me a reason why. 

Are there any MSE property whizzes who could offer advice on how to achieve this? All we are trying to do is have one home with a good mortgage deal. 

Thank you
Matt

Annisele

I don't know if this (scroll to p) applies to you, but if it does you might have a problem with the part about porting to a property you already own. I appreciate you don't own the property now, but one of the joint borrowers will. You're not really talking about a like-for-like port, you're talking about changing borrowers at the same time.

sammyjammy

If computer says no and they don't want to port it they don't have to, nobody has a right to porting a mortgage and in this scenario it really doesn't sound possible.

dimbo61

Could she sell her house and move in with you ?
Overpay by the 10% allowed each year

K_S

MattTheVet said:

Hi all,

We recently got married and both of us have a home in our own name which we purchased separately before we met. 

We would like to sell my home and port my very favourable Barclays mortgage (1.47% for a further 6y) to her property and be joint owners, both on the mortgage. 

Barclays have said this isn’t possible but I get the feeling it’s a ‘computer says no’ response as nobody at Barclays has given me a reason why. 

Are there any MSE property whizzes who could offer advice on how to achieve this? All we are trying to do is have one home with a good mortgage deal. 

Thank you
Matt

@mattthevet Normally porting is only allowed to a new property being purchased. Lenders can often show a lot of flexibility when it comes to porting, but perhaps there is no discretion on this requirement. 

K_S

@mattthevet Normally porting is only allowed to a new property being purchased. Lenders can often show a lot of flexibility when it comes to porting, but perhaps there is no discretion on this requirement.