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Porting a mortgage to a new property

(4 Posts)
itellyouwhat Tue 05-Mar-13 13:09:56

We would like to move house and port our current mortgage over with us. We wouldn't be borrowing anymore money, so would our current mortgage lender need to see proof of salaries again?

LadyKooKoo Tue 05-Mar-13 13:18:17

Probably not, we have changed provider but the new one didn't ask to see them because we both bank with them and our credit score was so good. If you have a good history with your current provider then I doubt that they would want to make more work for themselves.

CogitoErgoSometimes Tue 05-Mar-13 13:24:14

Proof of salary probably won't be necessary but they will need to value the new property, check the LTV ratio etc. You may find you end up with a new mortgage & new terms (eg interest rate) rather than just moving the old one. There will also be admin fees Worth checking.

itellyouwhat Tue 05-Mar-13 13:29:09

Thanks for your replies. I was aware of an admin fee, but was hoping to keep our current mortgage as interest rate is so good, but i'll give them a call and check what the procedure would be

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