Home Movers Mortgages
Ready for a change and looking to move to a larger home? Perhaps you’re considering downsizing?
Finding the right mortgage for your next home can be tricky, but at Riches Financial, we’re here to make the process easy and stress-free.
A home mover mortgage is designed to help you secure the best loan for your next property, whether you're upgrading to a larger home or downsizing. We’ll review your current mortgage to see if it’s best to port your existing loan or apply for a new one, ensuring the mortgage is affordable and suited to your changing needs. With the benefit of a larger deposit, you may be able to move to a more expensive property or enjoy lower monthly payments—particularly if you’re downsizing. Our expert advisers will guide you through every step of the way to get the right deal for you.
Frequently Asked Questions
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A home movers mortgage is designed for individuals looking to sell their current property and purchase a new one. It can involve transferring your existing mortgage to the new property (known as porting) or arranging a completely new mortgage with a different lender.
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Yes, many mortgages are portable, meaning you can transfer your existing deal to a new property. However, this depends on your lender’s terms and whether the new property meets their criteria. We can help you understand if porting your mortgage is the best option or if switching lenders might save you money.
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The amount you can borrow depends on factors such as your income, current financial commitments, and the value of the property you want to purchase. We can help assess your affordability and find the most suitable lender for your needs.
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If your current property hasn’t sold, you may need to consider a bridging loan or another financial arrangement to secure your new home. We can guide you through your options and help you find the right solution for your situation.
Get In Touch
Contact us for friendly, reliable advice. Initial consultations are free.