Transfering Mortgage Deal To New House Purchase

clara_2

Not Sure Whether This Is Possible But Have Just Finished Discounted Rate With C & G And Our House Is On The Market.however With The Current Slow Down In The Market Looks Like It Could Be A Slow Process And Would Like To Switch Mortgage To Better Deal But With An Option To Maintain Any New Rate And Lender If We Do Sell And Purchase A More Expensive Property. Can Anybody Suggest Lender Who Will Maintain Current Mortgage Offer And Transfer To New House Purchase Without Having To Incur All The Admin Costs A Second Time Round Or Indeed If This Possible Atall.any Hel Appreciated Many Thanks, Clara.

Ian_W

Have a look at the Coventry website HERE.

They have a 5yr Flexx mortgage, there's a fee and I'm not sure whether for a remortgage it's free valuation & legals, it's 5 yr fixed at 4.85% [last time I looked] but there are no redemtion penalties, so you can leave at any time or port it with you if you want.

But looking at your question again, many fixed & discounted variables are portable these days so have a look around for what suits you. Only thing is extra borrowing may be at a higher rate. That would involve remortgaging whilst up for sale - then porting to your new property in a few months time. I don't see that as a problem but I'm not quite sure if that's what you mean?

dwsjarcmcd

Clara,
Not sure that this is possible but if you haven't got interest in your house yet, you could transfer to a deal with C & G very quickly or remortgage to a new lender, (6 weeks) and just port when your house sells.