Home Mover Mortgages Gravesend & Kent
Thameside Mortgages help you to secure home mover mortgages in Gravesend, Kent, and the surrounding areas to secure the best deal for your mortgage.
Even if you are an experienced home owner, buying and selling property is a more demanding process, as you also need to take into consideration the legal work and emotions surrounding the sale of your property, not just the onward purchase.
Whether you are increasing, decreasing or borrowing the same level as your current mortgage, ‘porting’ the mortgage is process which involves moving your current mortgage terms to a new property.
What Are The Steps Involved?
The first step is to obtain a valuation on your property with an estate agent. It is likely that you already have a mortgage and maybe tied into a fixed rate with your current lender. Therefore, we will work out all the figures to establish whether it is more cost effective to stay with your current lender, or switch the entire mortgage to another lender, ensuring you get the right mortgage deal for your needs.
We usually arrange a chat with you over the phone initially and help you understand the amounts you can borrow, costs of buying a property and the likely monthly payments.
We will summarise our entire conversation to you by email and explain the next steps in terms of helping you obtain a mortgage.
Once we have all the necessary information, we can obtain an AIP (Agreement in Principle) which you can use to show estate agents, evidencing your ability to obtain a mortgage. We are more than happy for you to provide our contact details to the agent, should they need your offer to be ‘financially qualified’.
Once you have an offer we will help secure the right mortgage deal based on your needs and requirements and liaise with the estate agent, mortgage lender, solicitor, surveyor and all associated parties to ensure that the mortgage offer is issued as quickly as possible. We will also help you with all the legal forms that need to be completed and guide you right through to getting the keys to your new home.
Home Mover Mortgages – FAQs
How do mortgages work when you move house?
It’s quite often that moving house comes right in the middle of a fixed rate. In most situations, a mortgage lender will allow you to ‘port’ your mortgage to a new property, which is picking it up and moving it. You will be subject to the lender’s terms and conditions at that time, meaning you’d most likely need to go through full affordability and lending criteria checks. If your lender is willing to allow you to move/port the mortgage, you may not incur a penalty.
If you wish you borrow extra funds when you move, you will need to also apply for the extra amount and you are going to have to choose from the range of products available (usually with the same mortgage lender). The Thameside Mortgages team will guide and advise you on the options available to you.
How soon can you get a mortgage after moving?
While most mortgage lenders will not accept an application for a mortgage until 6 months have passed since completion, there are some lenders who will accept ‘day one’ remortgages, allowing you to remortgage right away. As you would expect, there are a number of factors that will determine whether you are eligible for an additional mortgage, such as your individual circumstances and needs.
What is porting a mortgage?
Another commonly asked question we are asked at Thameside Mortgages is; what is porting a mortgage? Porting a mortgage is where you buy a new home/property but keep your existing mortgage deal. Porting your mortgage when buying a new property is ideal if your current deal is better than any other current lender offers. Moreover, by porting your mortgage, you’re also likely to avoid potential early repayment charges.
What types of mortgage options are available?
With access to more than 90 different lenders and thousands of products, there is a multitude of mortgage options available for you to consider. Fixed-rate mortgages are one of the most popular types of mortgages as it offers peace of mind with the stability of payments, but the right mortgage is dependent on your own individual needs and circumstances. Variable rates, such as trackers or discounted variable rates can also be beneficial for the right situation.
Do you offer a comprehensive service?
Yes, of course. If you’re looking for professional assistance and advice with home mover mortgages, Thameside Mortgages can help. From submitting your application, getting your mortgage agreement in principle, and dealing with all the appropriate paperwork and solicitors, we offer a comprehensive stress-free service.
Why choose Thameside Mortgages?
We pride ourselves on the close relationships we build with our clients and on being an integral part of the journey. We believe in educating our clients towards making the right decisions. After working alongside the biggest firms and networks in the UK Mortgage Industry since 2006, Thameside Mortgages was established in 2018 with the aspiration of delivering the best customer experience.