Portability

Portability

A portable mortgage is one that can be transferred to another property without penalty if the borrower moves house within an early repayment charge period. The new interest rate that the Lender will be prepared to offer depends on whether the loan amount increases or decreases. If the latter, early repayment charges may apply.

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  • Struggling to get a mortgage? Its a sad fact that in todays climate, if you’ve got less than 10 per cent equity in your home, then it’s now very hard to find anyone to lend to you. Nationwide have recently stopped lending to anyone other than existing customers with less than 15 per cent equity and [...]
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  • Help…we’re buying a new house If you’re buying a property, and are looking for a new mortgage, you’ll find that there’s not much on offer at the moment. This week, almost every lender withdrew all of their new tracker mortgages, as they waited to see what the Bank of England would do with interest rates. Meanwhile, there are [...]
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