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Original poster

Porting Mortgage

5 replies

user1480677551 · 27/01/2024 13:39

I’m looking for any shared experiences of porting a mortgage … which is quite soon after we’ve moved (we’d be talking under a year)

Our outgoings have increased slightly but we’d not be looking to borrow any extra.

Realise everyone’s situations are different and ours is a bit of a mess tbh but interested to hear from anyone who has done similar and how the process was.

Thanks!

OP posts:
PickledPurplePickle · 27/01/2024 13:57

So you recently took out a mortgage and are now moving house?

Kentlane · 27/01/2024 14:19

Are you moving? When we moved we had to borrow more so nationwide ported our first mortgage and we had a second account for the additional we borrowed. Both had to have the same end date I think. It was fine, just if over paying you had to make sure you chose the right one. Other than that it didn't really make much difference.

TerfTalking · 27/01/2024 14:26

DS moved last August, he’s with Nationwide. he had two loans with different end dates, the main one, and a smaller one he borrowed extra for a new roof.

he moved and ported both those NW loans to the new house and got a third NW loan for the balance. All three have different end dates, and different interest rates.

The first one expires in May this year so that will go onto variable unless he negotiates a new rate, the smallest one expires next year and the same applies. The new main amount is on a three year fixed so he intends to remortgage all 3 to a single loan possibly with a new provider when that one comes to an end, depending upon rates at the time.

Original poster
user1480677551 · 27/01/2024 16:49

Yep, we took out a mortgage and took the maximum available … we’d like to move again now - but not to borrow more just port it over but in the last couple
have months now have an extra credit agreement out … no idea how strict lenders are essentially rechecking your affordability and what others have found

OP posts:
Original poster
user1480677551 · 27/01/2024 16:58

Yep, we took out a mortgage and took the maximum available … we’d like to move again now - but not to borrow more just port it over but in the last couple
have months now have an extra credit agreement out … no idea how strict lenders are essentially rechecking your affordability and what others have found … we were classed as affordable but with an extra loan out they could now re run and on paper say we’re now not affirdabke and not approve porting over …

OP posts:
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