Moving Home

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Author: Elliott Culley - Director & Mortgage Adviser of Switch Mortgage Finance

Moving Home

If you have a current residential mortgage on your home and are considering moving home, Switch Mortgage Finance can help you achieve your objective.
We are a whole of market broker meaning we have access to the most cost-effective options on the market.

We understand that moving home can be a complex and overwhelming process. One of the key considerations when moving is the transfer of your existing mortgage loan and how this works. Understanding the process and what is involved can really help the process.

Can I Just Move My Mortgage to Another House?

Yes, you can! If you have a portable mortgage, you can transfer your existing mortgage loan from one property to another. If you are not sure if your current mortgage is portable, it will state in the lender documentation you received when you first took your mortgage out. This can save you time and money as you won’t have to go through the process of applying for a new mortgage. 

First Steps to Moving House

Before you start the process of moving home, you’ll need to take the following steps:

  1. Assess your financial situation and determine how much you can afford to spend on a new property.
  2. Find out how much your current property is worth, so you can workout your deposit.
  3. Speak to a mortgage broker to assess your borrowing ability.
  4. Assess the total costs of how much the move will cost you.

What Do You to consider When Moving Home?

When moving home, there are a few essential considerations such as:

  1. Estate Agent Fees
  2. Conveyancing fees
  3. Valuation fees
  4. Stamp duty fees
  5. Mortgage product fees
  6. Home removal fees

There may be other fees to consider and it is recommended you obtain a rough quote for some of these items so that you can make sure you have the finances available. 

Speak to an Expert!

elliott-culley-mortgage-adviser- director-of-switch-mortgage

Contact us today for expert advice and guidance on your unique mortgage and property needs. We will work with you on a one-on-one to basis to help you find the right solution for your needs.  

With our experience you can rest assured that you are in good hands when it comes to securing the financing you need for your property.

How Much Does It Cost to Move House Average UK?

The cost of moving home in the UK can vary widely, but on average, it can cost between £8,000 to £10,000. This includes costs such as estate agent fees, conveyancing fees, removal costs, and stamp duty.

How Much Deposit Do I Need for a Buy a House?

The amount of deposit needed to buy a house can vary, but typically, a deposit of 5-20% of the property’s purchase price is required.

Why Use Switch Mortgage Finance?

Moving home is a complex process, but with the right guidance and support, it can be a seamless transition. As a mortgage broker, we are here to help you navigate the process and find the best mortgage solution for your needs. Don’t hesitate to reach out for more information.

Why Switch Mortgage Finance