How to find the best mortgage rate when moving home
These are rates priced for home movers — borrowers who already own and are buying a different property. Lenders treat this as a distinct category from first-time buyers and from remortgages, and price it accordingly, so it's worth comparing on the right basis rather than using general rate tables.
Movers usually have one advantage over first-time buyers: equity. If your current home has grown in value, or you've paid down the balance, the deposit on the next property can put you in a substantially cheaper LTV band. Work out your likely LTV on the new purchase before you look at rates, because it determines which rates you're actually shopping for.
Porting your existing mortgage
If you're mid-deal, your first question isn't which new rate to take — it's whether to keep the one you have. Porting means transferring your existing mortgage to the new property, which avoids the early repayment charge and keeps your rate if it's better than what's available now.
Porting is an application, not an entitlement. The lender reassesses your income, your credit file and the new property against its current criteria. People assume that because they're keeping the same mortgage nothing needs checking, and are then caught out when the lender declines — often because lending rules or their own circumstances have changed since the original application.
The complication is borrowing more, which most movers do. The additional amount is a separate part at current rates, with its own end date. You end up with two sub-accounts expiring at different times, and remortgaging cleanly later means waiting for both or paying a charge on one. Sometimes it's simpler and not much more expensive to pay the ERC, exit, and take a single new deal.
Port when
Your existing rate is clearly better than what's available now and the early repayment charge is large.
Consider exiting when
Current rates are similar or better, or the ERC has tapered to a small amount and a clean single deal is worth the cost.
Always check
Whether your lender will lend on the new property at all. Flats above commercial premises, non-standard construction and new-build flats all have lender-specific rules.
Timing a rate around a chain
Moving means your completion date depends on people you've never met. That makes rate timing genuinely awkward, because a mortgage offer has an expiry — usually around six months from issue — and chains regularly run longer than anyone predicts.
Apply early enough that the offer is in hand and the chain isn't waiting on you, but be aware of the expiry date and raise it with your lender or broker as soon as delays look likely. Most lenders will extend an offer, though not all will, and an extension may involve a fresh check of your circumstances.
If the offer expires and rates have risen meanwhile, you reapply at current pricing — which is how a chain delay turns into a permanently higher payment. It's the strongest practical argument for reserving a rate as early as you reasonably can.
Common questions
Can I take my mortgage with me when I move?
Usually — most fixed and tracker deals are portable, letting you transfer the mortgage to a new property without paying the early repayment charge. Porting requires a fresh application and the lender's approval of both you and the new property, so it isn't guaranteed.
What happens if I need to borrow more when I move?
The extra is typically arranged as a separate part at current rates, with its own deal end date, sitting alongside your ported mortgage. That leaves you with two parts expiring at different times, which complicates remortgaging later.
Should I port or take a new mortgage?
Compare the early repayment charge against the difference between your current rate and today's rates over the remaining deal period. If your existing rate is much better and the charge is large, port. If the rates are similar or the charge has tapered down, a single clean new deal is often simpler and cheaper overall.
How long is a mortgage offer valid when buying?
Commonly around six months from issue, though it varies by lender. If the chain drags on, ask about an extension well before the expiry — most lenders will consider one, but it may involve rechecking your circumstances.
How current are the rates on this page?
We collect product data from the lenders we track from their published information and refresh it regularly, so the home mover products above reflect our most recent check of each lender's range. Lenders can withdraw or reprice a deal at any time, sometimes with a few hours' notice, and a rate shown here is not an offer — availability depends on your circumstances, the property and the lender's own criteria.