Porting mortgage- nationwide

BreezyDuck · 2025-02-08T21:47:27+00:00

Hi all, Has anybody ported their mortgage to a new home?, If so, did you move on the same day? How did it all fall in place?

LMichelleFxx · 08/02/2025 22:26

Not with Nationwide, but we did do this with Accord.

All went through on completion day and didn’t encounter any problems.

MissMarianHalcombe · 08/02/2025 22:36

You would need to complete on the same day as you move otherwise your mortgage will redeem & early repayment charges will apply if you sell before you buy your new home.
I used to be a mortgage advisor at Nationwide although it was 9 years ago.

Songbird54321 · 08/02/2025 22:38

We've literally just done this when we moved on Thursday but with Lloyds, not Nationwide. I'll be honest, the mortgage advisor from Lloyds sorted it all out for us. She made the porting request before we moved and then sent the offer to our solicitor but I don't know the ins and outs of what she did in the background.
It all went through fine though.

Sunflowermoonbeam · 08/02/2025 22:39

I have and yes it all happens at once on completion day, all prearranged and no hassle at all

DragonfliesAboveYourBed · 08/02/2025 22:41

Yes we did this a few years ago, and are doing it again now. It was fine, we didn't have any issues.

Original poster

BreezyDuck · 08/02/2025 23:02

Thank you for all your advice. Would the requirement for me be to move the same day as exchange of contracts or completion?

OP posts:

eurochick · 08/02/2025 23:13

You move on completion day. You don't own the new property until then.

pinksquash13 · 08/02/2025 23:16

We did. I'm sure when we moved there was a clause that said you can sell, pay ERF and then if you complete on the next house within a certain time period, the mortgage can still be ported and the fee refunded. Or something like that. We did it all in one day in the end so didn't need to use it. That was with Nationwide.

Timetochange24 · 08/02/2025 23:54

BreezyDuck · 08/02/2025 23:02

Thank you for all your advice. Would the requirement for me be to move the same day as exchange of contracts or completion?

Usually you have to move out on completion day, whether you're porting your mortgage or switching to a new product. You don't own the house you've just sold after that, and you don't own the house you're buying before then.

We ported our mortgage with nationwide a couple of years ago and it was very straightforward. There was a clause from nationwide about how long a gap we would have been allowed between selling and buying before the porting was cancelled and we would have had to look for a new mortgage.

Amba1998 · 09/02/2025 00:57

You can’t move house until you complete. You won’t own a house until then and no bank will draw down monies or complete a mortgage port until then. You can exchange and complete on the same day though

allnewname · 09/02/2025 01:35

We had to rent between sale and purchase. We had to pay our early repayment fee but it was refunded if purchase was completed within 90 days. (Santander)

EMary12345 · 09/02/2025 02:32

Ported lots of times with nationwide - no probs at all- all happens on completion day!

PurBal · 09/02/2025 05:21

We ported with Nationwide on completion day but I don't think we had to. We looked into into rented and I think we had 6 months (worth checking your documents) but we decided against it because we hadn't found a property and we thought it would be too optimistic to arrange everything in that time. If we hadn't ported in 6 months then yes early repayment is due and it was a cost we couldn't afford.

PlugUgly1980 · 09/02/2025 05:49

Porting is a standard procedure for Mortgage Providers and conveyancing solicitors to deal with, so nothing to worry about. It will all happen on completion day

GrazeConcern · 09/02/2025 06:12

Does anyone know how it works long term? If you port but also want to borrow more? Do you just have two mortgages on a property that renew at different times?

DragonfliesAboveYourBed · 09/02/2025 07:15

GrazeConcern · 09/02/2025 06:12

Does anyone know how it works long term? If you port but also want to borrow more? Do you just have two mortgages on a property that renew at different times?

Yes that's what we have.

And now we're moving again we'll have 3 mortgages. Each one is on a fixed rate but they're all on different rates with different renewal dates.

Bouledeneige · 09/02/2025 08:40

I found Nationwide fantastically helpful when porting my mortgage.

GrazeConcern · 09/02/2025 08:43

Thanks @DragonfliesAboveYourBed I know our current 1.5% mortgage is portable and we’re just about to move so it’s nice to know we could get the full benefit of it! Also, having the overall amount spread out to renew at different times probably spreads the rate risk a bit.

DragonfliesAboveYourBed · 09/02/2025 08:50

GrazeConcern · 09/02/2025 08:43

Thanks @DragonfliesAboveYourBed I know our current 1.5% mortgage is portable and we’re just about to move so it’s nice to know we could get the full benefit of it! Also, having the overall amount spread out to renew at different times probably spreads the rate risk a bit.

Yes that's what we've found good. We've had to renew the rates on one of our mortgages since 2022 so that one is on a higher rate. But the other one is still on a lower rate with a few more years left.

Namechange546 · 09/02/2025 09:13

We did this recently with the added complication of moving from England to Scotland. Porting the mortgage was all handled by the bank and solicitors.

Because we were moving between the 2 systems, we were able to sell on the Friday and complete the purchase on the Monday without it affecting porting the mortgage. I don't know who held the funds over the weekend but it was all straightforward for us.

The removals on the other hand.......