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To Port or not To Port
scukulele
Posts: 2 Newbie
Hi MSE forum,
I am considering moving home and downsizing. I have potential for a balance of around £75000 after sale of my current property and buying a new one. My question is, do all funds from the sale go to your existing mortgage account and thus pay it off? I’m in a five year fixed deal so would like to avoid EPC of 5% on existing mortgage balance of £110,000.
I am considering moving home and downsizing. I have potential for a balance of around £75000 after sale of my current property and buying a new one. My question is, do all funds from the sale go to your existing mortgage account and thus pay it off? I’m in a five year fixed deal so would like to avoid EPC of 5% on existing mortgage balance of £110,000.
Ideally, I would like to bank my profit for improvements on the new home and overpayments to my deal at allowance of 10% per year.
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On a 5 year fixed deal with Halifax at 4.49% that started January 2023.0
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