Home mover
Making moving home easy: Home mover mortgage options explored by Save On Mortgages_____
Moving to a new home is an exciting time, and finding the right mortgage should be just as straightforward. Whether you're upgrading, downsizing, or simply relocating, there are plenty of flexible mortgage options to make your move stress free.
Can you take your mortgage with you?
Many mortgages are portable, meaning you can transfer your existing deal to your new home. This could be a great option if you’re happy with your current rate. Keep in mind, though, that you’ll still need to go through the application process, as lenders will check if your financial situation has changed.
What if you need a bigger loan?
If you're moving to a more expensive property, you might need to borrow extra on top of your current mortgage. Some lenders allow you to take out an additional loan alongside your existing one. Alternatively, switching to a new lender through remortgaging could help you secure a better rate for the full amount that you require to move home.
What if you’re downsizing?
If you're moving to a smaller home, you might be able to reduce your mortgage or even pay it off completely. This could free up some extra cash for home improvements, savings, or just to give you more financial flexibility.
Remortgaging to a new lender
Sometimes, switching to a different lender can offer better rates and more suitable terms. A remortgage can help you pay off your current loan and secure a deal that better suits your new circumstances. Just be sure to check for any early repayment charges before making the switch.
How your home’s value impacts your options:
- Upsizing - if your current home has increased in value, you may be able to borrow more with better terms
- Downsizing - selling a larger home for a smaller one could reduce your monthly payments or even allow you to buy mortgage free
- Negative equity - if you owe more than your home is worth, moving can be tricky. Talking to an expert can help you explore your options.
How can Save On Mortgages help you?
At Save On Mortgages, we make moving simple. Our team of experts will find the best mortgage options tailored to your needs. With access to a wide range of lenders, we’ll help you secure the most competitive deal – all while taking the hassle out of the process.
Let’s make your move smooth and stress free. Get in touch today and see how we can help make your move seamless. We don’t charge you a fee for our advice and guidance, so why not get in touch – you’ve nothing to lose!
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