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:
- Assess your financial situation and determine how much you can afford to spend on a new property.
- Find out how much your current property is worth, so you can workout your deposit.
- Speak to a mortgage broker to assess your borrowing ability.
- 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:
- Estate Agent Fees
- Conveyancing fees
- Valuation fees
- Stamp duty fees
- Mortgage product fees
- 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!
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.
Why Switch Mortgage Finance
- Raising The standards of financial advice
- Making financial advice accessible to all
- Trusted & stress-free financial advice
- Friendly, personable advisors