Portable mortgages

[noddyholder]

I understood that if a mortgage was portable it meant that the product rate and any 'special'offers are transferable when you buy a new property but that the bank still check you out and require a valuation.My parents are under the impression that you just find somewhere and the whole thing transfers straight over.They are not in the same financial situation wrt jobs ages etc as when they took out that mortgage so i think this may impact on them when they move.

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We have a portable mortgage and are in the process of trying to move. Yes you are right, they will check accounts and salaries as if it were for the first time and definately want a valuation done.

thanks have been out looking with them today and have tried to explain this!But I think they will find out the hard way tbh.