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Anything else to consider?
ERCs
Lender might let you 'port' though. Depends on the figures involved and whether they would lend on the new property.
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I did have one but it ended up cheaper just to pay it off and get a new mortgage for the full amount. From talking to the broker this seems to happy more than people actually end up porting them.
When you take out the top-up mortgage I believe you're generally restricted to the same provider if you want to get the best rates.
Howard
aggi
@hugo7
Has anyone moved halfway through a fixed term? If so what's the actual process?
Ours is expiring and our mortgage broker has found us a portable 5yr @ 1.24% with the same lender (which is better than their 3yr). For a number of reasons we want to go for the 5yr, but may move in 2-4yrs.
Is it just a case of moving our existing mortgage and then taking out a new one for the balance amount and period? Anything else to consider?
Cheers.